Felix transfers land with a FMV of $900,000 to a newly formed corporation in exchange for all the stock. The land has a basis of $300,000 and debt of $500,000. The basis of the land, in the hands of the corporation is:

Beagle autos is known for its affordable and reliable brand of consumer vehicles. because its shareholders expect to see an improved rate of growth in the coming years, beagle's executives have decided to diversify the company's range of products so that at least 40 percent of the firm's revenue is generated by new business units. however, the company's resources, capabilities, and competencies are limited to producing other forms of motorized vehicles, such as motorcycles and all-terrain vehicles (atvs). which type of corporate diversification strategy should beagle pursue?