Sam and Devon agree to go into business together selling college-licensed clothing. According to the agreement, Sam will contribute inventory valued at $ 100,000 in return for 80 percent of the stock in the corporation. Sam's tax basis in the inventory is $60,000. Devon will receive 20 percent of the stock in return for providing accounting services to the corporation (these qualify as organizational expenditures). The accounting services are valued at $25,000. Assume Devon received 25 percent of the stock in the corporation in return for his services for parts (e) through (i). e) What amount of gain or loss does Sam recognize on the formation of the corporation? f) What is Sam's tax basis in the stock he receives in return for his contribution of property to the corporation? g) What amount of income, gain, or loss does Devon recognize on the formation of the corporation? h) What is Devon's tax basis in the stock he receives in return for his contribution of services to the corporation? i) What tax advice would you give Sam and Devon to improve the tax consequences