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Darien contributes property with an adjusted basis of $80,000 and a fair market value of $100,000 to a newly formed business entity. If the entity

Darien contributes property with an adjusted basis of $80,000 and a fair market value of $100,000 to a newly formed business entity. If the entity is a C corporation and the transaction qualifies under 351, the corporations basis for the property and the shareholders basis for the stock are:

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