Janine transferred the following assets to form Zebra, a C Corporation.

Adjusted Basis Fair Market Value

Building $310,000 $425,000

Equipment 145,000 175,000

Trucks 15,000 25,000

In return, Janine received $75,000 in cash plus 100% of Zebra Corporations only class of stock outstanding (fair market value of $550,000).

a.) Zebra Corporations basis in the assets received is $550,000

b.) Janines basis in the stock of Zebra Corporation is $470,000

c.) Janines basis in the stock of Zebra Corporation is $545,000

d.) Zebra Corporations basis in the assets received is $625,000