11. A, B and C form ABC Corporation by transferring the following: A: $40,000 of equipment, receives 40,000 of stock (40%) B: $38,000 of land, receives 38,000 of stock (38%) C: $22,000 of services and $50 worth of candy bars, receives 22,000 of stock (22%) Does the above transfer qualify A and B for non-recognition of gain or loss under Code Sec. 351? a. Yes b. No