Hamby transfers a capital asset in exchange for a one-half interest in Hartsville LLC. The asset has an adjusted basis to Hamby of $20,000 and a fair market value of $55,000.

Hamby has a $---------realized gain on the exchange. Hamby's basis for his LLC interest is $-------. The LLC's holding period for the capital asset-----------(begins on the date of the transfer/carries over from Hamby). The LLC's basis for the contributed property is$--------.