1.) Mose contributes land with a basis of $100,000 and a fair market value of $225,000 to Beet Farming Corp in exchange for 100% of the corporations common stock. The land is subject to a $20,000 mortgage, which the corporation assumes. What is Moses recognized gain or loss on this transaction? [Do not enter commas, decimals or dollar signs in your answer]

2.) Mose contributes land with a basis of $100,000 and a fair market value of $225,000 to Beet Farming Corp in exchange for 100% of the corporations common stock. The land is subject to a $20,000 mortgage, which the corporation assumes. What is Mose's basus in the stock recieved? [Do not enter commas, decimals or dollar signs in your answer]