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CBOOK Exercise 7-15 (Algorithmic) (LO. 2) Rebecca holds 100 shares of Gotchas stock that she purchased for $1,500 several years ago. In a merger

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CBOOK Exercise 7-15 (Algorithmic) (LO. 2) Rebecca holds 100 shares of Gotchas stock that she purchased for $1,500 several years ago. In a merger of Gotchas into Solis, Inc., Rebecca exchanges her 100 Gotchas shares for 1,000 Solis shares and $300. Gotchas is valued at $33.00 per share and Solis at $3.00 per share. a. What is Rebecca's realized and recognized gain/loss from the reorganization? The exchange of Rebecca's stock b. What is Rebecca's basis in her Solis stock? income tax consequences for Gotchas or Solis.

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