Please Answer the following questions

X and Y formed a corporation on April 1 this year. In exchange for 50 shares of stock, X transferred equipment worth $60,000 (basis $15,000) subject to a mortgage of $10,000, which the corporation assumed. In exchange for 50 shares of stock, Y contributed land worth $70,000 (basis $9,000) subject to a mortgage of $20,000, which the corporation assumed. What is the corporation's basis in the equipment? O $15,000 $5,000 $10,000 $60,000 Jill incorporates her sole proprietorship by exchanging all the proprietorship's assets for the stock of jj Corporation, a new corporation. Jack is the only other shareholder of the Corporation, and he contributes his legal services in exchange for stock. To qualify for tax-free incorporation, Jill and Jack must be in control of jy immediately after the exchange. What is the minimum percentage of JJ's stock that Jill must own to qualify as "control" for this purpose? 80.0096 O 66.6796 O 50.0196 50.00%