Three individuals form Skylark Corporation with the following contributions: Cliff, cash of $50,000 for 50 shares; Brad, land worth $20,000 (basis of $11,000) for 20 shares; and Ron, cattle worth $30,000 (basis of $6,000) for 30 shares. (Show Computations)

a. These transfers are fully taxable and not subject to section 351

b. ron's basis in his stock is $24,000

c. ron's basis in his stock is $6,000

d. brad's basis in his stock is $20,000