Melba purchases land from Adrian. Melba gives Adrian $423,800 in cash and agrees to pay Adrian an additional $635,700 one year later plus interest at 9.5%.

a. What is Melba's adjusted basis for the land at the acquisition date?

Melba's adjusted basis for the land at the acquisition date is $.

b. What is Melba's adjusted basis for the land one year later?

Melba's adjusted basis for the land one year later is $.