Ron and Hermione formed Wizard Corporation on January 2. Ron contributed cash of $140,000 in return for 50 percent of the corporations stock. Hermione contributed a building and land with the following fair market values and adjusted bases in return for 50 percent of the corporations stock:

	FMV			Tax-Adjusted Basis
Building	$	88,000		$	22,000
Land		132,000			88,000
Total	$	220,000		$	110,000

To equalize the exchange, Wizard Corporation paid Hermione $80,000 in addition to her stock.

e. What adjusted basis does Wizard Corporation take in the land and building received from Hermione?

	land	building
adjusted basis	?	?