Soozie transfers real estate to the Palladium Corporation in exchange for stock possessing 85% of the combined voting power of all classes of stock entitled to vote and 70% of the total number of shares of all other classes of stock. No other exchanges of property for stock of Palladium Corporation occurred at or near the time of the transfer by Soozie. The real estate Soozie transferred had an adjusted basis of $600,000 and a fair market value of $950,000 at the time of the transfer, while the stock had a fair market value of $875,000 at the time of the transfer. As a result of the transfer: Soozie transfers real estate to the Palladium Corporation in exchange for stock possessing 85% of the combined voting power of all classes of stock entitled to vote and 70% of the total number of shares of all other classes of stock. No other exchanges of property for stock of Palladium Corporation occurred at or near the time of the transfer by Soozie. The real estate Soozie transferred had an adjusted basis of $600,000 and a fair market value of $950,000 at the time of the transfer, while the stock had a fair market value of $875,000 at the time of the transfer. As a result of the transfer