Trusty Corporation has a single class of common stock outstanding. Jim owns 200 shares, which he purchased for $50 per share two years ago. On April 10 of the current year, Trusty distributes to its common shareholders one right to purchase for $60 one common share for each common share owned. At the time of the distribution, each common share is worth $75, and each right is worth $15. On September 10, Jim sells 100 rights for $2,000 and exercises the remaining 100 rights. On November 10, he sells for $80 each 60 of the shares acquired through exercise of the rights. Read the requirements. Requirement a. What are the amount and character of income Jim recognizes upon receiving the rights? (Enter a "0" for a zero amount. If the amount is zero, select "n/a" in the character column.) Jim X i Amount of income Character of income Requirements a. What are the amount and character of income Jim recognizes upon receiving the rights? b. What are the amount and character of gain or loss Jim recognizes upon selling the rights? c. What are the amount and character of gain or loss Jim recognizes upon exercising the rights? d. What are the amount and character of gain or loss Jim recognizes upon selling the newly acquired common shares? e. What basis does Jim take in his remaining shares? Print Done