Yvonne and Simon form Ion Corporation. Yvonne transfers equipment with a basis of $$365,000$ and fair market value of $$547,500$ to Ion Corporation. Simon invests $$438,000$ of cash. They each receive $100$ shares in Ion Corporation worth $$438,000,$ but Yvonne also receives $$109,500$ in cash from Ion.Calculate Ion Corporation's basis in the equipment and determine Yvonne and Simon's basis in the Ion stock.Ion Corporation has a basis of $$547,500$x in the equipment. Yvonne has a basis of s$109,500$X for her stock and Simonhas a basis of $$547,500$for his