46)Vanessa contributed $20000 of cashand land with a fair market value of $10000

46)Vanessa contributed $20000 of cashand land with a fair market value of $100000 and an adjusted basisof $40000 to Cook Inc. (an S corporation) when it was formed. Theland was encumbered by a $30000 mortgage executed two yearsbefore. What is Vanessas tax basis in Cook Inc. afterformation?