Question: Problem 1 9 - 4 0 Part g ( A l g o ) g . Suppose the corporation assumed a mortgage o f $

Problem 19-40 Part g(Algo)
g. Suppose the corporation assumed a mortgage of $1,540,000 attached to the building and land. The fair market value of the building
is $900,000 and the fair market value of the land is $1,908,000. The fair market value of the stock remains $1,340,000.
What is the corporation's adjusted tax basis in each of the assets received in the exchange?
Note: Do not round intermediate calculations.
Problem 1 9 - 4 0 Part g ( A l g o ) g . Suppose

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