Jane, Hunter, Renee, and Lynn form Bradley Corporation with the following consid

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Jane, Hunter, Renee, and Lynn form Bradley Corporation with the following consideration: Basis to Transferor Fair Market Value Number of Shares Issued From Jane - Equipment ($20,000 of depreciation taken by Jane in prior years)$90,000 $270,000 50* From Hunter - Secret process $5,000 $100,000 20 From Renee - Cash $50,000 $50,000 10 From Lynn - Inventory $85,000 $130,000 20** *Jane receives $20,000 cash in addition to the 50 shares **Lynn receives $30,000 cash in addition to the 20 shares. Assume the value of each share of Bradley Corporation stock is $5,000. Jane

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