9. In a valid I.R.C. 351 transaction, Jones contributes real property to a corporation in exchange for stock. The property is worth $65,000 and Jones has a basis of $30,000. The property is subject to a mortgage of $10,000. The corporation assumes the mortgage. What is Jones' basis in his new corporate stock? a. $10,000 b. $20,000 c. $30,000 d. $35,000