Individuals Julie and Brandon form JB Corporation. Julie transfers cash of $425,000 in exchange for 50% of the stock of the JB Corporation worth $410,000 and a $15,000 note. Brandon transfers equipment with a $390,000 adjusted basis and a $425,000 FMV for 50% of the stock worth $410,000 and a note of the JB Corporation valued at $15,000. Brandon's basis in the stock received is
A) $350,000.
B) $390,000.
C) $410,000.
D) $425,000.
B) $390,000.
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