On August 27 of the current year, Bailey Corporation exchanged $25,000 of 4% interest-bearing bonds for 100 shares of its common stock worth $300 per share. If your answer amount is zero, enter "0". a. Does this transaction qualify as a nontaxable reorganization? If so, what is its type?   b. What is the gain realized by the bondholders on the exchange? $fill in the blank 2 c. What is the gain recognized by the bondholders on the exchange? $fill in the blank 3 d. What is the basis in the stock that was received?

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