Hi, please answer the following question. Will give thumb up for your good work, thank you.

The managing audit partner (X) came to you and expressed interest in investing in a hauling business with another audit partner (Y). They each will contribute a truck each with adjusted basis of $150 to the corporation in return for 50 shares in the corporation each. Partner X's truck fair market value is $200, while partner Y's truck fair market value is $180. Partner Y is contributing an additional $20 in cash to equalize the contributions. Ignoring the holding period and assume all capital gain/loss, what tax consequence to X, Y, and the corporation? Please analyze as follows (show all calculations): 1) Realized Gain 2) Recognized Gain by applying IRC Sec. 351(a) and 357(c) as applicable 3) IRC Sec. 358 stock basis to shareholder 4) IRC Sec. 362 property basis to new corporation 5) If the shareholder sells all the stocks subsequently, assuming fair market value remain the same as at the time of contribution, what gain, or loss will be recognized to the shareholders? 6) If the corporation sells the trucks subsequently, assuming fair market value remain the same as at the time of contribution, what gain, or loss will be recognized to the corporation? The managing audit partner (X) came to you and expressed interest in investing in a hauling business with another audit partner (Y). They each will contribute a truck each with adjusted basis of $150 to the corporation in return for 50 shares in the corporation each. Partner X's truck fair market value is $200, while partner Y's truck fair market value is $180. Partner Y is contributing an additional $20 in cash to equalize the contributions. Ignoring the holding period and assume all capital gain/loss, what tax consequence to X, Y, and the corporation? Please analyze as follows (show all calculations): 1) Realized Gain 2) Recognized Gain by applying IRC Sec. 351(a) and 357(c) as applicable 3) IRC Sec. 358 stock basis to shareholder 4) IRC Sec. 362 property basis to new corporation 5) If the shareholder sells all the stocks subsequently, assuming fair market value remain the same as at the time of contribution, what gain, or loss will be recognized to the shareholders? 6) If the corporation sells the trucks subsequently, assuming fair market value remain the same as at the time of contribution, what gain, or loss will be recognized to the corporation