1) Camille transfers property with a tax basis of $960 and a fair market value of $1,515 to a corporation in exchange for stock with a fair market value of $1,240 and $275 in cash in a transaction that qualifies for deferral under section 351. Camille also incurred selling expenses of $107. What is the amount realized by Camille in the exchange?

a. $1,515

b. $1408

c. $1240

d. $1,133

2) Casey transfers property with a tax basis of $3,800 and a fair market value of $6,800 to a corporation in exchange for stock with a fair market value of $5,250 and $720 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed liability of $830 on the property transferred. Casey also incurred selling expenses of $461. What is the amount realized by Casey in the exchange?

a. $6,800

b. $6,339

c. $6,239

d. $5,519

3) Antoine transfers property with a tax basis of $518 and a fair market value of $653 to a corporation in exchange for stock with a fair market value of $590 in a transaction that qualifies for deferral under section 351. The corporation assumed liability of $63 on the property transferred. What is Antoine's tax basis in the stock received in the exchange?

a. $653

b. $590

c. $518

d. $455