Al, Bob, and Carl form West Corporation and transfer the following items to West:

Item Transferred Transferor's Basis Shares Received Transferor Al Bob Carl FMV by Transferor $ 25,000 1,000 common 25,000 250 preferred 7,500 300 common Item Patent Cash Services $25,000 The common stocok has voting nignis. The predered stock does not Item Transferred Transferor's Basis Shares Received Transferor Al Bob Carl FMV by Transferor $ 25,000 1,000 common 25,000 250 preferred 7,500 300 common Item Patent Cash Services $25,000 The common stocok has voting nignis. The predered stock does not