Townsend, the sole shareholder of Pruett Corporation, has a $376,400 basis in his stock. He exchanges all of his Pruett stock for $470,500 of Rogers voting common stock plus land with a fair market value of $94,100 and basis of $23,525. Pruett distributed the land to Townsend; This exchange meets all Code requirements. If an amount is zero or there is no gain or loss, enter " 0 ". a. What is Townsend's recognized gain/loss from the reorganization? Townsend recognizes of 5 b. What is the gain/loss recognized by Pruett Corporation and Rogers Corporation on the reorganization? Rogers Corporation recognizes 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 } and the basis in the land is 5