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Jeff transfers property with a tax basis of $790 and a fair market value of $1,185 to a corporation in exchange for stock with a

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Jeff transfers property with a tax basis of $790 and a fair market value of $1,185 to a corporation in exchange for stock with a fair market value of $860 and $91 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $234 on the property transferred. What is the corporation's tax basis in the property received in the exchange

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