These facts will be used for questions 1 - 10. A, an individual, transfers land with an adjusted basis of 40 and fair market value of 100, to Newco in exchange for 50 Newco shares, fair market value of 100. B, an individual, transfers equipment with an adjusted basis of 70 and fair market value of 110 to Newco in exchange for 50 Newco shares, fair market value 100, plus GM (General Motors) stock with a fair market value of 10. What is B's recognized gain or loss? O a loss o 010 O 30 O 60 O none of the above What is A's adjusted basis in the Newco stock? O negative O O 10 O 30 040 070 O none of the above What is B's adjusted basis in the Newco stock? O negative 010 O 30 040 070 Onone of the above What is B's adjusted basis in the GM stock? negative 0 10 30 040 070 O none of the above What is Newco's adjusted basis in the equipment received from B? negative 0 10 30 040 070 O none of the above What is Newco's adjusted basis in the land received from A? negative 10 30 40 070 none of the above Newco's holding period in the land includes A's holding period in that land. True False