Jefferson Millinery Inc. $($JMI$)$ decided to liquidate its wholly owned subsidiary, $8$ Miles High Inc. $(8$MH$).8$MH had the following tax accounting balance sheet:

FMV Adjusted Basis Appreciation

Cash $ $220,250$ $ $220,250$

Building $65,00024,25040,750$

Land $155,25090,50064,750$

Total $ $440,500$ $ $335,000$ $ $105,500$

c$.$ What is JMI$$s tax basis in the building and land after the complete liquidation?