Townsend, the sole shareholder of Pruett-Corporation, has a $758,000 basis in his stock. He exchanges all of his Pruett stock for $947,500 of Rogers voting common stock plus land with a falr market value of $189,500 and basts of \$\$7,375. Pruett distributed the tand 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 gainfloss from the reorganization? Townsend recognizes x of $. b. What is the gain/loss recognized by Pruett Corporation and Rogers Corporation on the reorganization? Rogers Corporation recognizes of 1 and Pruett Corporation recognizes of: c. What is Townsend's basis in the Rogers stock and the land recelved? The basis in the Rogers stock is s and the basis in the land is s