Lilah and Juliet form a corporation. Lilah contributes innd (a capital asset) with a fair market value of $600,000 and a tax basis of $300,000 in exchange for 600 shares of In stock Juliet performs services with a value of $400,000 in exchange for 400 shares of L, Ine stock What gain must Lilah and Jalat recognise on this transaction ? OA Lilah recognizes $300,000 capital gain and Juliet recognizes $400,000 ordinary OB. Neither Lilah nor Juillet recognize any income OG Lilah recognizen So gain and Juliet recognizes $400,000 ordinary income