Hunda Corp. exchanges its voting stock for all of the shares of Kneesawn Corp., held by its sole shareholder, Chevy, in a reorganization. Chevy's basis in his Kneeswan stock was $30,000 and the fair market value of the Hunda stock Chevy received was $100,000. What is Chevy's realized gain, recognized gain and basis in his Hunda shares? Multiple choice question. Realized gain = $70,000; Recognized gain = $0; Basis = $30,000 Realized gain = $70,000; Recognized gain = $70,000; Basis = $100,000 Realized gain = $0; Recognized gain = $0; Basis = $30,000