A owns a Ferris wheel with a $$100,000$ adjusted basis $($AB$)$ and a fair market value $($FMV$)$ of $$975\mathrm{.}000$B has $20$ shares of $3$ Flags AmusenAnt Park FAP$).$A agrees to exchange the Ferris wheel for $80$ shares in FAP that have a FMV of $$972\mathrm{.}000.$$$2,000$ in cash and costumes with a FMV of $$1,000.$After the exchange, A is diagnosed with an illness and decides to sell his stock and retire Asells the $80$ shares Lar $$972,000.$In a Sec $351$ transaction:Back $13$Question $53$O property transferred must be in exchange solely for stock for gain or loss to be deferredO the receipt of boot will disqualify the entire Sec. $351$ transactionO property transferred in exchange for debt securities qualifies under Sec. $351$O services can be exchanged for stockO the section only applies to individuals contributing assets to a corporation