What is the corporations tax basis in the property, Taxation

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What is the corporations tax basis in the property

Problem: Ben transfers property with a tax basis of $800 and a fair market value of $500 to a corporation in exchange for stock with a fair market value of $500. What is the corporation's tax basis in the property received in the exchange? (Assume no "elections" were made by the parties.)

A. $800

B. $750

C. $700

D. $500

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