James Russell is a 50% shareholder in a landscaping corporation, LC Corp.He has just incorporated his own wholly-owned landscaping business, Greenscape Inc. The other (unrelated) shareholder in LC Corp.wishes to buy James out with one-half the assets of LC corp. consisting of tracrors, tools, and equipments, all written down below current value. James wishes to transfer these assets to Greenscape Inc.What are the tax consequences if LC Corp. redeems James's stock with the property and james contributes the assets to the capital of Greenscape Inc.?