Use the following facts to explain the tax consequences of the following scenarios.

Billy Bob started Best Computers Corporation in 1998. He contributed cash of $25,000 to form the corporation, and a building he bought for $90,000. It was worth $750,000 in 1998 and he received 75,000 shares of stock in exchange.

In 1999, he bought 1000 shares of Intel, a publicly traded company, for $7,500 and a $100,000 corporate bond issued by Enron, a publicly traded company, through his financial advisor.

In 2002, Enron filed for bankruptcy. In the same year, he sold his shares of Intel for $12,500.

In 2020, Billy Bob lost market share and had to close his beloved business, getting nothing when the company closed its doors.

a) What was Billy Bobs basis in Best Computers Corporations stock from 1998? Show all calculations and references to IRC sections.

b) What was Best Computers Corporations basis in his building in 1998? Show all calculations and references to IRC sections.

c) Does Section 1244 apply to his holdings in Best Computers Corporation, Intel, and/or Enron? Explain using references to Section 1244.