Alpha Corporation is interested in acquiring Beta Corporation as of August 7 of the current year(not a leap year) because Beta manufactures a chemical that is essential for the processing ofAlphas products. Alpha will transfer its stock for all of Betas plants, equipment, and inventory valued at $2,000,000 ($1,500,000 adjusted basis) and the $1,000,000 liabilities associated with these assets. Alpha plans on continuing to use Betas assets in the manufacturing of the chemical that has been producing for the last seven years. However, Beta will retain $50,000 cash and liquid assets to pay a product lawsuit liability. Besides transferring its assets and liabilities, Beta has a$100,000 deficit in its E & P account, $300,000 NOL, and $21,000 business credits to carry over to Alpha. Beta is owned solely by Kramer who has a basis in her stock of $375,000.Assuming the transaction meets all the requirements for a corporate reorganization under 368, how much gain/loss is realized by Alpha, Beta, and Kramer? How much of the realized gain/loss is recognized? What is Alphas basis in the assets it receives, and what is Kramers basis in her new Alpha stock?