2. Three individuals form NBC Corporation with the following contributions: Nigel Building worth $30,000 (basis of $28,000) for 30 shares Bart Land worth $50,000 (basis of $33,000) for 50 shares Corinne Machine worth $1,000 (basis of $850) for 1 share; and Legal & accounting services worth $19,000 for 19 shares a) Nigel recognizes gain equal to $2,000. b) Bart's basis in his stock received is $50,000. c) Corinne recognizes gain equal to $150, plus recognizes ordinary income equal to $19,000. d) Corinne's basis in her stock received is $19,850. e) Responses a. and b. are both correct