Now assume Aaliyah, Inc. purchased the assets of Steph, Inc. for the same consideration as stated. Aaliyah simultaneously contributed the assets acquired to Aaliyah II, Inc. On July 1, 2019 Aaliyah, Inc. Purchased the assets of Steph, Inc. directly from Stephs . Aaliyah consummated the purchase using cash of $20,000,000 and property with an adjusted basis of $500,000 and a Fair Market value of $3,000,000. At the time of the acquisition, Steph had the following assets: Adjusted Basis Fair market Value Accounts Receivable $ 400,000 $ 300,000 Marketable Securities $ 300,000 $ 800,000 Loan Receivable $ 200,000 $ 100,000 US Government Securities $ 500,000 $ 500,000 Inventory $ 1,000,000 $ 2,000,000 Furniture/Fixtures $ - 0 - $ 1,100,000 Building $ 600,000 $ 4,000,000 Covenant Not to Compete $ - 0 - $ 1,200,000 Totals $3,000,000 $ 10,000,000 Aaliyahs tax basis in Aaliyah II is equal to? ________________________________