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Jasmine transferred 100 percent of her stock in Emerald Company to Jade Corporation in a Type A merger. In exchange she received stock in Jade

Jasmine transferred 100 percent of her stock in Emerald Company to Jade Corporation in a Type A merger. In exchange she received stock in Jade with a fair market value of $900,000 plus $1,220,000 in cash. Jasmine's tax basis in the Emerald stock was $1,007,000. What amount of gain does Jasmine recognize in the exchange and what is her basis in the Jade stock she receives?

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