Bobby owns Advertising Solutions, Inc. $($ASI$)$ and sells $100\%$ of the company stock on July $1$ of the current year to an ESOP for $$3,000,000.$ Bobby had an adjusted basis in the ASI stock of $$450,000.$ If Bobby reinvests in qualified replacement securities before the end of the current year, which of the following statements is true?

Bobby will not recognize long$-$term capital gain or ordinary income in the current year.

Bobby must recognize $$2,550,000$ of long$-$term capital gain in the current year.

Bobby must recognize $$450,000$ of ordinary income in the current year.

If Bobby dies before selling the qualified replacement securities$,$ his heirs will have an adjusted taxable basis in the qualified replacement securities of $$450,000,$ Bobby's carryover adjusted basis.