F and G Formed a Corporation on March 1 This

question 7

Multiple Choice

F and G formed a corporation on March 1 this year.F transferred equipment worth $40,000 (basis $15,000) in exchange for 40 shares of stock, and performed services worth $10,000 in exchange for 10 shares of stock.In exchange for 50 shares of stock, G contributed land worth $70,000 (basis $9,000) subject to a mortgage of $20,000, which the corporation assumed.What is G's basis in his stock after the exchange?

• A)$0
• B)$9,000
• C)$20,000
• D)$11,000
• E)None of the above

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Definitions:

Evolutionary Hypothesis

A theory suggesting that the traits and behaviors possessed by organisms have developed over time through natural selection and adaptation to their environments.

Mating Preferences

The criteria or attributes that individuals in a species use to select their partners for reproduction.

Cross-Cultural

Relating to, or comparing different cultures or cultural areas to elucidate their similarities and differences.

Characteristics of Mating

Traits and behaviors that influence the selection of a partner for reproduction within a species.