Brother-Sister Redemptions. Bob owns 60 of the 100 outstanding shares of Dazzle Corporation stock and 80 of the 100 outstanding shares of Razzle Corporation stock. Bob's basis in his Dazzle shares is $12,000, and his basis in his Razzle shares is $8,000. Bob sells 30 of his Dazzle shares to Razzle for $50,000. At the end of the year of sale, Dazzle and Razzle have E&P of $25,000 and $40,000, respectively. a. What are the amount and character of Bob's recognized gain or loss on the sale? b. What is Bob's basis in his remaining shares of the Dazzle and Razzle stock? c. How does the sale affect the E&P of Dazzle and Razzle? d. What basis does Razzle take in the Dazzle shares it purchases? e. How would your answer to Part a change if Bob owns only 50 of the 100 outstanding shares of Razzle stock