Nicole transfers to Hillside Corporation depreciable machinery originally costing $18,000 and now having a (n) $17,000 adjusted basis. In exchange, Nicole receives all 150 shares of Hillside stock having a(n) $22,000 fair market value (FMV) and a three-year Hillside note having a(n) $9,000FMV. a. What are the amount and character of Nicole's recognized gain or loss? b. What are Nicole's bases in the Hillside stock and note? c. What is Hillside's basis in the machinery? Requirement a. What are the amount and character of Nicole's recognized gain or loss? Begin by identifying Nicole's realized gain or loss and recognized gain or loss. (Enter a loss with a minus sign or parentheses.) Nicole's realized gain (loss) = Nicole's recognized gain (loss) =