Exercise 12-5 (Algorithmic) (LO. 2, 3) Yvonne and Simon formIon Corporation. Yvonne transfers equipment with a basis of$234,800 and fair market value of $352,200. Simon invests $281,760of cash. The Yvonne and Simon form Ion Corporation. Yvonne transfers equipment with a basis of \( \$ 234,800 \) and fair market value of \( \$ 352,200,5 i m p n \) invests \( \$ 281,760 \) of cash. They each recei 2 answers