Wake transfers property with a $22,000 adjusted basis and a $95,000 EMV to Georgia Corporation for 70 shares of Georga stock. Fran, Jake's father, transfers property wth a 533,000 adiuted bas: and a $95,000FMV to Georgia for the remaining 30 shares of Georgia stock. Read the Requirement a. What is the amount of each transferor's recognized gah or loss? Jake realizes a $ and recognizes Fran realizes a(n) 5 and recognizes Requirement b. What is Jake's basis in his Georga stock? (Assume no transfer twes are paid) Begin by selecting the formula to calculate the basis. Basis of slock+ Jake What is Jake's basis in his Georgia shock? Jake's basis in his Georgia slock is