On the formation of Newco, A transfers land (a section 1231 asset) held long-term with a basis of $10,000 and a value of $60,000, and inventory with a basis of $30,000 and a value of $40,000, in exchange for 100 shares of Newco common stock with a value of $100,000 The transaction qualifies under I.R.C. section 351(a). What is A's basis in the Newco stock? Please explain your answer. What is A's holding period(s) for the Newco stock? Please explain your answer. If A were to sell all the stock on the next day, how much would be short term capital gain and how much would be long-term capital gain? Please explain your answer. What is Newco's basis in the land and inventory