Keith and Dena own 200 and 100 shares, respectively, of South East Corporation stock, which represent all the shares outstanding. The current market value per share is $30. South East needs capital to expand its operations, and Dena is willing to contribute to South East silver bullion against which the corporation can borrow operating funds. Dena purchased the bullion 12 years ago, when its cost was a fraction of its current market value. Read the requirement. How many additional shares must Dena receive in exchange for the bullion to avoid recognizing a gain? What value of silver bullion should she contribute to South East in exchange for additional shares? Requirement If Dena wants to avoid recognizing a gain upon transferring the bullion to the corporation, how many additional shares must she receive in exchange for the bullion, and what value of silver bullion should she contribute to South East in exchange for additional shares? Hint: Dena needs to achieve 80% control of the corporation