Buckley corporation is merging with mdc corporation in a tax-free reorganization (under section 368). mdc transfers property (basis of $300,000 fair market value of $700,000 and a business liability of $150,000) to buckley in exchange for voting shares in buckley corporation. mdc transfers the buckley shares to its shareholders in exchange for their mdc stock. mdc then liquates. as a result of these transfers: 1) what is the fmv of the stock? 2) what is mdc corporation’s realized gain or loss? 3) what is mdc corporation’s recognized gain or loss? 4) what is buckley corporation’s realized gain or loss? 5) what is buckley corporation’s recognized gain or loss? do you need any additional information?