Question: Cellino and Barnes form Injury Attorneys, a C corporation. Callino contributes several autographed gavels to Injury Attorneys. Cellino purchased the gavels for $ 1 ,

Cellino and Barnes form Injury Attorneys,a C corporation. Callino contributes several autographed gavels to Injury Attorneys. Cellino purchased the gavels for $1,000, and they have a total fair market value of $1,000. Barnes contributes several autographed textbooks to Injury Attorneys. Barnes purchased the bats for $5,000, and they have a fair market value of $7,000. What is Injury Attorneys basis in the contributed gavels and textbooks?

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