Ann and Bob form Robin Corporation. Ann transfers property worth $420,000 (basis of $150,000) for 70 shares in Robin Corporation. Bob receives 30 shares for property worth $15,000 (basis of $3,000) and for legal services (worth $165,000) in organizing the corporation. a. What gain or income, if any, will the parties recognize on the transfer? Ann recognizes a gain of $ 0 X and Bob recognizes a gain of $ o X. 15,000 X and compensation income of b. What basis do Ann and Bob have in the Robin Corporation stock? Ann has a basis of $ 150,000 X, while Bob has a basis of $ 45,000 X in the stock. c. What is Robin Corporation's basis in the property and services it received from Ann and Bob? Robin Corporation has a basis of $ 150,000 x in the property Ann transferred and a basis of $ Bob transferred. 30,000 x in the property Ann and Bob form Robin Corporation. Ann transfers property worth $420,000 (basis of $150,000) for 70 shares in Robin Corporation. Bob receives 30 shares for property worth $15,000 (basis of $3,000) and for legal services (worth $165,000) in organizing the corporation. a. What gain or income, if any, will the parties recognize on the transfer? Ann recognizes a gain of $ 0 X and Bob recognizes a gain of $ o X. 15,000 X and compensation income of b. What basis do Ann and Bob have in the Robin Corporation stock? Ann has a basis of $ 150,000 X, while Bob has a basis of $ 45,000 X in the stock. c. What is Robin Corporation's basis in the property and services it received from Ann and Bob? Robin Corporation has a basis of $ 150,000 x in the property Ann transferred and a basis of $ Bob transferred. 30,000 x in the property