Yvonne and Simon form Ion corporation. Yvonne transfers equipment with a basis of $237,600 and a fair market value of $356,400. Simon invests $285,120 of cash. They each receive 100 shares in Ion corporation worth $285,120, but Yvonne also receives $71,280 of cash from Ion. Calculate Ion corporations basis in the equipment and determine Yvonne and Simon s basis in the Ion stock.

Derek owns 660 share's of stock in Rose corporation. The remaining 1,540 shares of Rose are owned as follows: 220 by Derek's daughter Rosalie, 440 by Derek's aunt Penelope and 880 by a partnership in which Derek holds ownership interest of 75%. Determine the number of share's that Derek owns (directly and indirectly) in Rose Corporation.