Julian transferred 100 percent of his stock in Lemon Company to Apricot Corporation in a Type B stock-for stock exchange. In exchange, he received stock in Apricot with a fair market value of $425,000. Julian's tax basis in the Lemon stock was $850.000. What amount of loss does Julian recognize in the exchange and what is his basis in the Apricot stock he receives? Multiple Choice $425,000 loss recognized and a basis In Apricot stock of $425,000. No loss recognized and a basis in Apricot stock of $850,000. $425,000 loss recognized and a basis In Apricot stock of $850,000. O No loss recognized and a basis in Apricot stock of $425,000. Camille transfers property with a tax basis of $1,190 and a fair market value of $1.500 to a corporation in exchange for stock with a fair market value of $1,245 and $255 in cash in a transaction that qualifies for deferral under section 351. Camille also incurred selling expenses of $158. What is the amount realized by Camille in the exchange? Multiple Choice $1,500 $1.342 O $1.245 $1,087 O