CVF Company owned 3,000 shares of Jarvis nonvoting common stock with a $315,000 basis. In each of the following cases, determine CVF's recognized gain or loss on the disposition of this stock: a. CVF exchanged it for 2,300 shares of Jarvis voting common stock worth $382,500 b. CVF exchanged it for U.S. long-term bonds worth $379,500. c. CVF exchanged it for 1,700 shares of Newton common stock worth $375,250. This exchange was not pursuant to a corporate reorganization involving Jarvis and Newton. d. CVF exchanged it for 1,700 shares of Newton common stock worth $375,250. This exchange was pursuant to a corporate reorganization involving Jarvis and Newton a Recognized b. Recognized gain 64,500 C. Recognized gain $ 60,250 d. Recognized gain loss no gain/loss CVF Company owned 3,000 shares of Jarvis nonvoting common stock with a $315,000 basis. In each of the following cases, determine CVF's recognized gain or loss on the disposition of this stock: a. CVF exchanged it for 2,300 shares of Jarvis voting common stock worth $382,500 b. CVF exchanged it for U.S. long-term bonds worth $379,500. c. CVF exchanged it for 1,700 shares of Newton common stock worth $375,250. This exchange was not pursuant to a corporate reorganization involving Jarvis and Newton. d. CVF exchanged it for 1,700 shares of Newton common stock worth $375,250. This exchange was pursuant to a corporate reorganization involving Jarvis and Newton a Recognized b. Recognized gain 64,500 C. Recognized gain $ 60,250 d. Recognized gain loss no gain/loss