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Maribel converted her sole proprietorship to an S corporation and transferred several assets to the...

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Accounting

Maribel converted her sole proprietorship to an S corporation and transferred several assets to the corporation. The assets cost $20,000 and had an adjusted basis of $8,500. She also spent an additional $1,100 to make the conversion to an S corporation. What is her beginning basis in the S corporation?

a) $8,500

b) $9,600

c) $20,000

d) $21,100

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