Only looking for the answer to question 4.

Question 3 and 4 are based on the following information. Lind and Post organized Ace Corp., which issued voting common stock with a fair market value of $120,000. They each transferred property in exchange for stock as follows: Property Adjusted basis Fair market value Percentage of Ace stock acquired Lind Building $40,000 $82,000 60% Post Land $5,000 $48,000 40% The building was subject to a $10,000 mortgage that was assumed by Ace. 3. What was Ace's basis in the building? A. $30,000 B. $40,000 C. $72,000 D. $82,000 4.) What was Lind's basis in Ace stock? A. $82,000 B. $40,000 C. $30,000 D. $0