Question $2$

On January $1,2023,$ Nick, Ryan, and Taylor form Miami Corporation. Nick contributes investment land he parchased $8$ years ago for $$10,000($eurrent MY $$30,000)$ in exchange for Miami stock with a FMV of $$30,000.$ Ryan transfers furniture for $$25,000$ of Miuri stock. Taylor transfers equipment fur $$25,000$

of Miami stock.

What is Nick's basis in the Miami stock he received?