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Kim contributed the following two assets to Corporation WM in a Section 351 transaction, Kim received WM stock that is worth $250,000. Adjusted basis

Kim contributed the following two assets to Corporation WM in a Section 351 transaction, Kim received WM stock that is worth $250,000. Adjusted basis Fair market value Machinery 105,000 Land 160,000 100.000 150,000 What is (a) the corporation's basis in the machinery and land received and (b) Kirk's basis in stock?

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