John and Jim transferred jointly owned property to a corporation in exchange for stock with a FMV of $400,000. John and Jim's basis in the property was $250,000. John and Jim received 65% of the stock of Helpers, Inc. in exchange for their property. What amount of taxable gain must John and Jim recognize due to this transaction? Question 41Select one: a. $ 97,500 b. $150,000 c. $200,000 d. $ 0