In 2013, Andrew, Jonas, and Devin form Greek Corporation. Andrew contributes land (a capital asset) having a $100,000 FMV in exchange for 145 shares of Greek stock. He purchased the land in 2011 $110,000. Jonas contributes machinery (Sec. 1231 property purchased in 2010) having a $85,000 adjusted basis and a$60,000 FMV in exchange for 105 shares of Greek stock. Devin contributes services worth $40,000 in exchange for 40 shares of Greek stock.

a.	What is the amount of Andrew's recognized gain or loss?
b.	What is Andrew's basis in his Greek shares? When does his holding period begin?
c.	What is the amount of Jonas's recognized gain or loss?
d.	What is JonasJonas's basis in his Greek shares? When does his holding period begin?
e.	How much income, if any, does Devin recognize?
f.	What is Devin's basis in her Greek shares? When does her holding period begin?
g.	What is Greek's basis in the land and the machinery? When does its holding period begin? How does Greek treat the amount paid to Devin for her services?