CVF Company owned 2,000 shares of Jarvis nonvoting common stock with a $210,000 basis. In each of the following cases, determine CVFs recognized gain or loss on the disposition of this stock:

a. CVF exchanged it for 900 shares of Jarvis voting common stock worth $260,000. b. CVF exchanged it for U.S. long-term bonds worth $257,000. C. CVF exchanged it for 600 shares of Newton common stock worth $253,250. This exchange was not pursuant to a corporate reorganization involving Jarvis and Newton. d. CVF exchanged it for 600 shares of Newton common stock worth $253,250. This exchange was pursuant to a corporate reorganization involving Jarvis and Newton. a. Recognized b. Recognized c. Recognized d. Recognized