Maya and John form Foster Corporation. Maya transfers land (basis $30,000 and FMV $70,000). John invests cash ($60,000). They each receive 50 shares in Foster worth $60,000, but Maya receives $10,000 in cash from Foster. Determine (1) Mayas basis in Foster stock and (2) Fosters basis in the land. (20 Points)

$30,000 and $60,000

$70,000 and $60,000

$60,000 and $40,000

$30,000 and $40,000