Townsend, the sole shareholder of Pruett Corporation, has a $250,400 basis in his stock. He exchanges his Pruett stock for $313,000 of Rogers Corporation voting common stock plus land with a fair market value of $62,600 and basis of $15,650. Pruett distributed the land to Townsend. This exchange qualifies under $ 368. If an amount is zero or there is no gain or loss, enter "O". a. What is Townsend's recognized gain/loss from the reorganization? Townsend recognizes a gain of $ 62,600 b. What is the gain/loss recognized by Pruett Corporation and Rogers Corporation on the reorganization? Rogers Corporation recognizes a gain of $ and Pruett Corporation recognizes of $ c. What is Townsend's basis in the Rogers stock and the land received? The basis in the Rogers stock is $ 313,000 X and the basis in the land is $