Rebecca holds $100$ shares of Gotchas stock that she purchased for $$1,200$ several years ago. In a merger of Gotchas into Solis, Inc., Rebecca exchanges her $100$ Gotchas shares for $1,000$ Solis shares and $$240.$ Gotchas is valued at $$26\mathrm{.}40$ per share and Solis at $$2\mathrm{.}40$ per share.

a$.$ What is Rebecca's realized and recognized gain$/$loss from the reorganization?

The exchange of Rebecca$$s stock

income tax consequences for Gotchas or Solis.

b$.$ What is Rebecca's basis in her Solis stock?

$fill in the blank $2$