78. 101. Andy became an initial shareholder in Key City Systems, Inc. by transferred both property and money to the corporation. There should be nonrecognition of gain under section 351 on the capitalization of the corporation if A. Andy received only corporation stock. O 1 B. Andy received cash. C. Andy received only debt relief. D. Andy received securities. 79. 102. The economy has been rough for technology firms and Line Electronics, Inc. has had to issue stock in discharge of its outstanding debt. As a result of the transaction, both the corporation and the shareholder could: A be entitled to a tax credit B. get a tax deduction C have income