Problem: Individual B owns property having an adjusted basis of $20,000 and a fair market value of $15,000. B transfers the property to a corporation in exchange for some stock in a transaction coming under the rules of Sec. 351. The stock that is received satisfies all of the Sec. 1244 requirements. Under Sec. 1244, what is the stock's adjusted basis? If the transferee corporation became bankrupt, how would the loss be treated?