A and B form A and B corporation. A transferred a lot located in Western Maryland that has a Fair Market Value of $250,000 and a basis of $50,000 for fifty-percent of the stock in A and B. B transferred a building with a Fair Market Value (FMV) of $120,000 and a basis of $24,000. B also provided services worth $10,000 for 50% of the stock of A and B. Question: What are the tax consequences to A and to B as a result of these transactions? Be sure to discuss whether (a) Section 351 applies and the reason(s); and (b) what gain or loss or income if any that A and B would recognize as a consequence of these transactions