Ann and Bob form Robin Corporation. Ann transfers property worth $420,000 (basis of $150,000) for 7 share in Robin Corporation. Bob receives 30 shares for property worth $ 165,000 (basis of $30,000) and for legal services (worth $ 15,000) in organizing the corporation.

1. What gain or income, if any, will the parties recognize on the transfer?

Ann recognizes (ordinary income or gain) of . Bob recognizes (ordinary income or gain) of .

2. What basis do Ann and Bob have in the stock in Robin Coportation?

Ann has a basis of , while Bob has a basis of in the stock.

3. What is Robin Corportaion's basis in the property and services it received form Ann and Bob?

Robin Corportaion has a basis of in the property Ann transferred and a basis of in the property Bob transferred.

While cell phones with holographic keyboards are currently in the introduction stage of the industry life cycle, tablet computers are in the growth stage. in the context of this scenario, which of the following statements is true? a. the industry for cell phones with holographic keyboards will face greater competition than the tablet industry. b. while the industry for cell phones with holographic keyboards will focus more on product innovation, the tablet industry will focus more on process innovation. c. while the industry for cell phones with holographic keyboards can reap the benefits of economies of scale, the tablet industry will experience no such benefits. d. the industry for cell phones with holographic keyboards will face price competition, whereas, in the tablet industry, the mode of competition will be non-price.