Wendell owns 100% of the outstanding stock of Group Corporation. During the current year, Wendell transferred inventory to Group in exchange for SO additional shares of stock and $10,000 cash. The inventory has a tax basis of $50,000 and a fair market value of $56,000 at the time of the transfer. What is Group's tax bas is in the inventory received in the exchange? a. $46,000 b. $56,000 c. $50,000 d. $40,000

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