rivas XCIO DE $800,000 $2,300,000 None of the other answers are correct. Question 5 3.33 John transfers a plece of construction equipment to Xray Inc with a basis of $500,000. The property is worth $700,000. In return, John receives 83% of XRay Inc's stock, worth $700,000. John did not own any stock in Xray prior to the transaction above. How much taxable income, if any, does John have on the transaction above? SO/None $200,000 $350,000 $700,000 None of the other answer choices are correct Question 6 3.33 pts