Townsend, the sole shareholder of Pruett Corporation, has a $$246,800$ basis in his stock. He

exchanges all of his Pruett stock for $$308,500$ of Rogers voting common stock plus land with

a fair market value of $$61,700$ and basis of $$15,425.$ 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 $,of$ $$.$

b$.$ What is the gain$/$loss recognized by Pruett Corporation and Rogers Corporation on the

reorganization?

$\backslash$table$[[$Rogers Corporation recognizes $a_{?},$ of $$,$and Pruett Corporation$]]$

recognizes no gain or loss $$

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 $