Loonis Incorporated and Rhea Company formed LooNR Incorporated by transferring business assets in exchange for 1000 stares of LOONR common stock Loonis transferred assets with a $820,000 FMV and a $444.000 adjusted tax bass and received 820 shares. Rhea transferred assets with a $180.000 FMV and a $75,000 adjusted tax basis and received 180 shares. Which of the following statements is true? Multiple Choice The FMV of Rhea's 180 shares is $180.000, Rhea's exchange of assets for stock is taxable because he is not in control of Loon immediately after the exchange LOONR recognizes a $105.000 gain on the exchange of its stock for Rhea's asset None of these choices are true