18-32 (Algorithmic) (LO. 1, 2) Mara and Bob form Robin Corporation. Mara transfers property worth $217,500 (basis of $76,125) for 70 shares in Robin Corporation. Bob receives 30 shares for property worth $87,000 (basis of $17,400) and for legal services (worth $8,700) in organizing the corporation. If there is no gain or loss, enter "0" for the amount. a. What gain or income, if any, will the parties recognize on the transfer? Mara recognizes no gain or loss Feedback of $ 0. Bob recognizes ordinary income of $ 0X. Check My Work Section 351 is mandatory if a transaction satisfies the provision's requirements. The three requirements for nonrecognition of gain or loss under 351 are that (1) property is transferred (2) in exchange for stock and (3) the property transferors are in control of the corporation after the exchange. b. What basis do Mara and Bob have in the Robin Corporation stock? Mara has a basis of $ Feedback Check My Work Incorrect 0X, and Bob has a basis of $ 0X in the stock. c. What is Robin Corporation's basis in the property and services it received from Mara and Bob? Robin Corporation has a basis of $ 0x in the property Mara transferred and a basis of $ 0X in the property Bob transferred