Adex Corporation exchanges $1.4 million of its common stock and $84,000 of Adex bonds for all of Tonira Corporation's outstanding stock. As part of the same transaction, Tonira then merges into Adex, which receives assets having a $1.5 million FMV and a(n) $950,000 adjusted basis. In the merger, Albert, a Tonira ?shareholder, exchanges his 15% interest in Tonira's single class of stock for $210,000 in Adex stock and $12,600 in Adex bonds. Albert's 15% interest in Tonira is comprised of 4,000 shares having a $170,000 adjusted basis. Following the reorganization, Albert owns 10% (2,500 shares) of Adex's stock. Adex's E&P balance is $525,000.

Requirement a. What is the amount of Triton?'s recognized gain or loss in the asset? transfer? ?(Complete all answer boxes. Enter? "0" if no gain or loss is? recognized.)

	Recognized gain/(loss)
Asset transfer	$____

Requirement b. What is Advanced?'s basis in the assets received in the? exchange?

Advanced's basis in the assets acquired is

$

______

.

Requirement c. What are the amount and character of Arthur?'s recognized gain or? loss? ?(Use parentheses or a minus sign for a loss. Enter? "0" if no gain or loss is? recognized, then select? "N/A" as? character.)

Amount	Character
$________	Capital gain

Requirement d. What is Arthur?'s basis in the Advanced stock? In the Advanced ?bonds?

Stock basis	Bonds basis
$_______	$_______