In the current year, Harry, Stu, and Kim form Sirens Corporation. Harry contributes land (a capital asset) having a $112,500 FMV in exchange for 145 shares of Sirens stock. He purchased the land three years ago for $140,000. Stu contributes machinery (Sec. 1231 property purchased four years ago) having a $100,000 adjusted basis and a $67,500 FMV in exchange for 105 shares of Sirens stock. Kim contributes services worth $45,000 in exchange for 40 shares of Sirens stock. Read the requirements. Requirement a. What is the amount of Harry's recognized gain or loss? Harry realizes a $ and recognizesa. What is the amount of Harry's recognized gain or loss? b What is Harry's basis in his Sirens shares? When does his holding period begin? C. What is the amount of Stu's recognized gain or loss? d. What is Stu's basis in his Sirens shares? When does his holding period begin? e. How much income, if any, does Kim recognize? f. What is Kim's basis in her Sirens shares? When does her holding period begin? g. What is Sirens's basis in the land and the machinery? When does its holding period begin? How does Sirens treat the amount paid to Kim for her services