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Finance

Simon is the sole shareholder of ABC Corporation. Simon contributes $90,000 cash and equipment worth $30,000 for stock in ABC Corporation. Simon’s basis in the equipment was $10,000. What is Simon’s adjusted basis for the ABC Corporation stock?

Select one:

a. $90,000

b. $100,000

c. $120,000

d. $30,000

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92372186

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