B transferred depreciable equipment currently worth $12,000. The equipment had a basis in his hands of $9,000 (cost $15,000, depreciation $6,000). He purchased the equipment several years ago for $15,000, and had used it in his manufacturing business since that time. B received 1,000 shares of X stock worth $10 per share and $2,000 cash. C transferred $6,000 cash and performed management services for the corporation worth $4,000. C received 1,000 shares of X stock worth $10,000. D transferred land worth $15,000 subject to a mortgage of $7,000. The basis of the land was $6,000. D received 800 shares of X stock worth $8,000. Assume the transaction qualifies for 351 treatment. a. Compute the income, deduction, gain or loss recognized, if any, for B, C, and D. b. What effect, if any, will the transaction have on the corporation's taxable income? c. Compute the basis of the stock for each shareholder. d. Compute the basis of the contributed property to X the