15. Mikey, Pam and Ryan all have experience working for a paper sales company. Durino 2017, they decided it would be more fun and probably more successful if they formed their own corporation to do paper sales. They formed MPR, Inc, by contributing assets and services in exchange for all of the stock. Below are the items transferred Transferor Basis Mikey BuildingFMV 500,000 240,000 12,000 40,000 MikeyOffice Equipment 25,000 Pam Office Equipment 75,000 Advertising Services Pam 40,000 Ryan Patent 100,000 What will be the total recognized and realized gain on this transaction? a. $448,000 and $448,000 b. $140,000 and $448,000 c. $40,000 and $40,000 $40,000 and $448,000