(Answered) Question - sandy and greta form tan inc by transferring the

Accounting

Question - Sandy and Greta form Tan, Inc. by transferring the following assets to the corporation in exchange for 1,000 shares of stock each.

Sandy: Cash of $100,000

Greta: Land (worth $100,000; adjusted basis of $60,000).

How much gain must Tan recognize on the receipt of these assets?

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