Market Corporation owns 100% of Subsidiary Corporation's stock. Market Corporation completely liquidates Subsidiary Corporation, receiving land with a $400,000 adjusted basis and a $500,000 FMV in exchange for Subsidiary stock, which has a $300,000 adjusted basis. Market Corporation has a basis in the land of

a. $300,000.

b. $400,000.

c. $500,000.

d. None of these

Answer rating: 100% (QA)

D None of these The Markel Corporation is a holding company for insurance reinsurance and investment ... View the full answer