QUESTION 31 3 pou Rosemary Incorporates her Sole Proprietorship and transfers its assets to the newly formed Esther Corporation. The assets transferred have an Adjusted Basis of $300 000 and a Fair Market Value of $420,000 Also transferred was $10,000 in liabilities, 59.000 of which was for personal (non business) purposes and the remaining 51.000 being business related. In return for these transfers, Rosemary receives all of the stock in Esther Corporation which of the following is correct? Rosemary's basis in the Esther Corporation stock will be $300,000 Rosemary's basis in the Esther Corporation stock will be $310.000 Esther Corporation will have a basis of $309.000 in the property transferred Esther Corporation will have a basis of $300,000 in the property transferred