Hope Corporation has a single class of common stock outstanding. Joe owns 450 shares, which he purchased for $60 per share two years ago. On April 10 of the current year, Hope distributes to its common shareholders one right to purchase for $65 one common share for each common share owned. At the time of the distribution, each common share is worth $80, and each right is worth $20. On September 10, Joe sells 225 rights for $3,000 and exercises the remaining 225 rights. On November 10, he sells for $85 each 63 of the shares acquired through exercise of the rights. Read the requirements. Requirement a. What are the amount and character of income Joe recognizes upon receiving the rights? (Enter a "0" for a zero amount. If the amount is zero, select "n/a" in the character column.) Amount of income 6750 Joe Character of income n/a Requirement b. What are the amount and character of gain or loss Joe recognizes upon selling the rights? (Round all intermediary calculations to two decimal places and your final answer to the nearest cent. Enter a "0" for a zero amount. If the amount is zero, select "n/a" in the character column.) Amount of gain or loss 11625 Joe Character of gain or loss short-term capital loss Requirement c. What are the amount and character of gain or loss Joe recognizes upon exercising the rights? (Enter a "0" for a zero amount. If the amount is zero, select "n/a" in the character column.) Joe Amount of gain or Character of gain loss 1260 or loss capital gain Requirement d. What are the amount and character of gain or loss Joe recognizes upon selling the newly acquired common shares? (Round all intermediary calculations and your final answer to the nearest cent. Enter a "0" for a zero amount. If the amount is zero, select "n/a" in the character column.) Joe Amount of gain Character of gain or loss or loss Requirement e. What basis does Joe take in his remaining shares? (Enter your answers to the nearest cent.) Joe's basis in his original 450 shares is Joe's basis in his remaining shares purchased with the rights is