Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Inc. $($BLI$).$ As part of their discussions with the sole shareholder of the corporation, Ernesto Young, they examined the company's tax accounting balance sheet. The relevant information is summarized as follows:

FMV Adjusted Basis Appreciation

Cash $ $23,750$ $ $23,750$

Receivables $17,90017,900$

Building $118,50059,25059,250$

Land $259,50086,500173,000$

Total $ $419,650$ $ $187,400$ $ $232,250$

Payables $ $26,200$ $ $26,200$

Mortgage$*144,750144,750$

Total $ $170,950$ $ $170,950$

$*$ The mortgage is attached to the building and land.

Ernesto was asking for $$504,950$ for the company. His tax basis in the BLI stock was $$165,000.$ Included in the sales price was an unrecognized customer list valued at $$170,000.$ The unallocated portion of the purchase price $($$$86,250)$ will be recorded as goodwill. $($Negative amounts should be indicated by a minus sign.$)$

a$.$ What amount of gain or loss does BLI recognize if the transaction is structured as a direct asset sale to Amy and Brian? What amount of corporate$-$level tax does BLI pay as a result of the transaction?b$.$ What amount of gain or loss does Ernesto recognize if the transaction is structured as a direct asset sale to Amy and Brian, and BLI distributes the after$-$tax proceeds $[$computed in part $($a$)]$ to Ernesto in liquidation of his stock? $($Round intermediate calculations and final answer to the nearest whole dollar amount.$)$c$1.$ What are the tax benefits, if any, to Amy and Brian as a result of structuring the acquisition as a direct asset purchase?

c$2.$ What is the tax basis in the assets received by Amy and Brian?