I know the correct answer, but I need some explanation about the steps. Thank you.

In October 2010, Paul acquired 100% of Alpha Corporation common stock by transferring property with an adjusted basis of $1,100,000 and fair market value of $4,400,000. Alpha is a qualified small business corporation. Or Corporation common stock for $16,800,000. Read the requirements. Requirement a. What is the amount of gain that may be excluded from Paul's gross income? (Enter a "0" if none of the gain may be excluded from the taxpayer's gross income.) The amount of gain that may be excluded from Paul's gross income is $ 15,700,000 Requirement b. What would your answer be if the fair market value of the Alpha stock were only $810,000 upon its issue? (Enter a "0" if none of the gain may be excluded from the taxpayer's gross income.) Under this condition, the amount of gain that may be excluded from Paul's gross income is $ 10,000,000 Requirement c. What would your answer be if the stock were sold after two years? (Enter a "0" if none of the gain may be excluded fromthe taxpayer's gross income.) If the stock were sold after two years, the amount of gain that may be excluded from Paul's gross income is $ 0 Requirement d. Can Paul avoid recognizing gain by purchasing replacement stock? O A. Yes. If Paul acquires $4,400,000 or more of qualified stock within six months no gain is recognized, providing the original stock was held for over five years. OB. No. Paul must recognize gain on the sale of the Alpha Corporation common stock because the sale exceeded $10,000,000. O C. Yes. If Paul acquires $10,000,000 or more of qualified stock within 60 days no gain is recognized, providing the original stock was held for over five years. D. Yes. If Paul acquires $16,800,000 or more of qualified stock within 60 days no gain is recognized, providing the original stock was held for over six months. In October 2010, Paul acquired 100% of Alpha Corporation common stock by transferring property with an adjusted basis of $1,100,000 and fair market value of $4,400,000. Alpha is a qualified small business corporation. Or Corporation common stock for $16,800,000. Read the requirements. Requirement a. What is the amount of gain that may be excluded from Paul's gross income? (Enter a "0" if none of the gain may be excluded from the taxpayer's gross income.) The amount of gain that may be excluded from Paul's gross income is $ 15,700,000 Requirement b. What would your answer be if the fair market value of the Alpha stock were only $810,000 upon its issue? (Enter a "0" if none of the gain may be excluded from the taxpayer's gross income.) Under this condition, the amount of gain that may be excluded from Paul's gross income is $ 10,000,000 Requirement c. What would your answer be if the stock were sold after two years? (Enter a "0" if none of the gain may be excluded fromthe taxpayer's gross income.) If the stock were sold after two years, the amount of gain that may be excluded from Paul's gross income is $ 0 Requirement d. Can Paul avoid recognizing gain by purchasing replacement stock? O A. Yes. If Paul acquires $4,400,000 or more of qualified stock within six months no gain is recognized, providing the original stock was held for over five years. OB. No. Paul must recognize gain on the sale of the Alpha Corporation common stock because the sale exceeded $10,000,000. O C. Yes. If Paul acquires $10,000,000 or more of qualified stock within 60 days no gain is recognized, providing the original stock was held for over five years. D. Yes. If Paul acquires $16,800,000 or more of qualified stock within 60 days no gain is recognized, providing the original stock was held for over six months