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Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 1 0 0 percent of the corporation's

Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases:
\table[[,,Adjusted Tax],[,FMV,Basis],[Inventory,$24,000,$12,000
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