Please provide the accurate answer to this general accounting problem using appropriate methods.

I need help finding the accurate solution to this general accounting problem with valid methods.

Joe transferred the following assets to JH Corporation.   Basis to Transferor FMV       Cash $120,000 $120,000                Machinery $48,000                    $36,000                 Land $108,000                    $144,000                   In exchange, Joe received 50% of JH Corporation’s only class of stock outstanding.  The stock has no established value. However, all parties believe that the value of the stock Joe received is the equivalent of the value of the assets she transferred.  The only other shareholder, Ethan, formed JH Corporation five years ago. Joe has no gain or loss on the transfer. JH Corporation has a basis of $48,000 in the machinery and $108,000 in the land. JH Corporation has a basis of $36,000 in the machinery and $144,000 in the land. Joe has a basis of $276,000 in the stock of JH Corporation.e. None of the above.