A newly formed corporation received the following assets in exchange for stock:                                                                                           Appreciation                                Basis                     FMV              (Built in Loss)         Adjusted Basis   Equipment           300,000                250,000   Land                     400,000                430,000   Trucks/Other        400,000                320,000   Building               400,000                220,000                                                             What is the corporation’s adjusted basis of each asset to the corporation?  You must show your calculations.

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