Rachelle transfers property with a tax basis of $1,125 and a fair market value of $1,350 to a corporation in exchange for stock with a fair market value of $1,040 and $146 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $164 on the property transferred. What is the corporation's tax basis in the property received in the exchange

Job 456 was recently completed. the following data have been recorded on its job cost sheet: direct materials $ 2,418 direct labor-hours 74 labor-hours direct labor wage rate $ 13 per labor-hour machine-hours 137 machine-hours the corporation applies manufacturing overhead on the basis of machine-hours. the predetermined overhead rate is $14 per machine-hour. the total cost that would be recorded on the job cost sheet for job 456 would be: multiple choice $3,380 $5,298 $6,138 $2,622