Bob and Frank formed Bob's Franks, Inc. as follows - Bob transferred Equipment needed by the business worth $450,000 (Bob's adjusted basis $200,000), receiving in exchange 75% of the corporation's common stock Frank's contribution will be his services as COO and production manager. Bob and Frank have agreed that these services are worth $150,000, receiving in exchange 25% of the corporation's common stock Answer each of the following questions related to the tax consequences of this transaction to Bob and Frank. How much gain (or income), if any, will Bob recognize? A. $250,000 gain or income recognized B. $0 basis C. No gain/income recognized D. $450,000 gain/income recognized E. $150,000 gain or income recognized F. None of the answers is correct G. $200,000 basis H.$450,000 basis I. $250,000 basis J. $150,000 basis C. What basis will Bob assign to the CS received in this transaction? How much gain (or income), if any, will Frank recognize? What basis will Frank assign to the CS received in this transaction