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Rebecca holds 100 shares of Gotchas stock that she purchased for $2,400 several years ago. In a merger of Gotchas into Solis, Inc., Rebecca exchanges

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Rebecca holds 100 shares of Gotchas stock that she purchased for $2,400 several years ago. In a merger of Gotchas into Solis, Inc., Rebecca exchanges her 100 Gotchas shares for 1,000 Solis shares and $480. Gotchas is valued at $52.80 per share and Solis at $4.80 per share. a. What is Rebecca's realized and recognized gain/loss from the reorganization? Assuming that this exchange qualifies for tax-free treatment under $ 368, Rebecca's realized gain is $ her recognized gain is $ 480 b. What is Rebecca's basis in her Solis stock

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