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Yvonne and Simon form Ion Corporation. Yvonne transfers equipment with a basis of $384,600 and fair market value of $576,900 to Ion Corporation. Simon invests

Yvonne and Simon form Ion Corporation. Yvonne transfers equipment with a basis of $384,600 and fair market value of $576,900 to Ion Corporation. Simon invests $461,520 of cash. They each receive 100 s...

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