Individuals A and Beach transferred to a newly organized corporation, property having a fair market value of $2,000 in exchange for the issuance by the corporation of 45 shares of its capital stock to each transferor. At the same time, the corporation issued to C, an individual, 10 shares of its capital stock in payment of legal services rendered by C. C transferred no property to the corporation. A and Beach had a basis in their contributed property of $500 and no liabilities were associated with the contributed property. The fair market value of the legal services performed by C was also $2,000. Collectively, individuals A, B, and Cown 100% of the newly organized corporation. Required: How much gain is to be recognized by shareholders A, B, and c? Shareholder A Shareholder B Shareholder C What is each shareholders basis in the stock issued by the newly organized corporation? Shareholder A Shareholder B Shareholder C What is the newly organized corporation's basis in the property contributed shareholders A and B? Shareholder A Shareholder B