Check my work 7 Required information [The following information applies to the questions displayed below.] Part 7 of 7 Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases: 3.12 points eBook Inventory Building Land FMV $ 52,000 390,000 598,000 $ 1,040,000 Adjusted Tax Basis $ 26,000 260,000 780,000 $ 1,066,000 Print Total References The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $940,000. The transaction met the requirements to be tax-deferred under $351. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Assume the corporation assumed a mortgage of $1,140,000 attached to the building and land. Assume the fair market value of the building is now $650,000 and the fair market value of the land is $1,378,000. The fair market value of the stock remains $940,000. g. What is the corporation's adjusted tax basis in each of the assets received in the exchange? (Do not round intermediate calculations.) 7 Inventory Building Land Adjusted basis