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Lena Tucker contributed $20,000 in cash and land with anadjusted basis of $100,000 and a fair market value of $140,000 to anewly formed corporation in return for 1,000 shares of stock in thecorporation. During Year 1, Lena’s pro rata share of thecorporation's separately and nonseparately stated items of incomewas $40,000 (including $5,000 of tax-exempt interest), and her prorata share of the corporation's separately stated items of loss anddeductions was $80,000. During the year she received distributionstotaling $30,000. What is her adjusted basis in the 1,000 shares ofstock?
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