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Mandel transferred property to form a new corporation. Assume that the transfer qualifies for Section 351. The property he transferred has a fair market
Mandel transferred property to form a new corporation. Assume that the transfer qualifies for Section 351. The property he transferred has a fair market value of $200,000 and a tax basis of $250,000. What is Manders basis in stock received and what is the corporation's basis in the property? $200,000 $250.000 O$250,000 $250.000 O$250,000 $200,000 Odsoth (a) and (o are possible Both (a) and (b) are possible 0
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