For each of the following independent transactions, calculate the recognized gain or loss to the seller and the adjusted basis to the buyer. 

a. Kiera sells Parchment, Inc. stock (adjusted basis $17,000) to Phillip, her brother, for its fair market value of $12,000. 

b. Amos sells land (adjusted basis $85,000) to his nephew, Boyd, for its fair market value of $70,000. 

c. Susan sells a tax-exempt bond (adjusted basis $20,000) to her wholly owned corporation for its fair market value of $19,000. 

d. Sinbad sells a business truck (adjusted basis $20,000) that he uses in his sole proprietorship to his cousin, Agnes, for its fair market value of $18,500. 

e. Martha sells her partnership interest (adjusted basis $175,000) in Pearl Partnership to her adult daughter, Kim, for $220,000.