Noreen transfers to Window Corporation depreciable machinery originally costing $15,000 and now having a(n) $13,000 adjusted basis. In exchange, Noreen receives all 75 shares of Window stock having a(n) $18,000 EMD and a three-year Window note having a(n) $7,000 FMV. Read the requirements. ... Requirement a. What are the amount and character of Noreen's recognized gain or loss? Noreen realizes a(n) and recognizes a(n) Requirements a. What are the amount and character of Noreen's recognized gain or loss? b. What are Noreen's bases in the Window stock and note? c. What is Window's basis in the machinery? -