Homework-Ch 10 Help Save & Exit Submit Check my work 1 1 Dennis contributed business assets to a new business in exchange for stock in the company. The exchange did not quality as a tax- deferred exchange. The fair market value of these assets was $287,000 on the contribution date. Dennis's original basis in the assets he contributed was $143.000, and the accumulated depreciation on the assets was $78,000 a. What is the business's basis in the assets it received from Dennis? b. What would be the business's basis f the transaction qualified as a tax deferred exchange? Business's basis Business's basis co