Robert and Sylvia propose to have their corporation, Wolverine Universal (WU), acquire another corporation, EMU Inc., in a stock-for-stock Type B acquisition. The sole shareholder of EMU, Edie Eagle, will receive $567,500 of WU voting stock in the transaction. Edie's tax basis in her EMU stock is $101,000. (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.)

a. What amount of gain or loss does Edie recognize if the transaction is structured as a stock-for-stock Type B acquisition?

b. What is Edies tax basis in the WU stock she receives in the exchange?

c. What is the tax basis of the EMU stock held by WU after the exchange?