In year 1, Stone, a cash basis taxpayer, incorporated her CPA practice. No liabilities were transferred. The following assets were transferred to the corporation: Cash (checking account) Computer equipment: Adjusted basis $ 500 30,000 Fair market value Cost 34,000 40,000 Immediately after the transfer, Stone owned 100% of the corporation's stock. The corporation's total basis for the transferred assets is: a. $30,000 b. $30,500 c. $34,500 d. $40,500