Jon and Elyn form a corporation Jon transfers Hventory with a fair market value of $500,000 and a tax basis of $200,000 in exchange for 500 shares of EJ, Inc.Ellyn transfers machinery and equipment with a fair market value of $500,000 and a tax basis of $450,000 in exchange for 400 shares of In stock and cash of 100,000 Elyn orginally purchased the equipment for $700,000 and claimed $250,000 of depreciation on it. What tax bass do Jon and Elyn have in their E.In stock? O A Jon's basis is $200.000 and Elyn's basis is $100,000 Os. Jon's basis is $200,000 and Elyn's basis to $450,000 OG Jon's basis is $200.000 Elyn's basis is $500,000 OD. Jon's basis is 5500,000 and Elly's basis is 5400.000