Exercise 18-23 (Algorithmic) (LO. 3) Yvonne and Simon form Ion Corporation. Yvonne transfers equipment (basis of $309,000 and fair market value of $463,500). Simon invests $370,800 of cash. They each receive 100 shares in Ion Corporation, worth $370,800, but Yvonne also receives $92,700 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 basis of in the equipment. Yvonne has a basis of for her stock and Simon has a for his stock Exercise 18-23 (Algorithmic) (LO. 3) Yvonne and Simon form Ion Corporation. Yvonne transfers equipment (basis of $309,000 and fair market value of $463,500). Simon invests $370,800 of cash. They each receive 100 shares in Ion Corporation, worth $370,800, but Yvonne also receives $92,700 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 basis of in the equipment. Yvonne has a basis of for her stock and Simon has a for his stock