A, B, C and D (all individuals) form Deli Corporation by transferring the following assets and receiving a total value of stock issued of $160,000:

A: Cash $30,000 and equipment with value of $40,000 with a basis to A of $50,000.

Individual A receives $60,000 worth of stock plus $10,000 of other property.

B: Land with value of $60,000 with a basis to B of $20,000 and a of $30,000 liability to be assumed by Deli Corporation. B receives $30,000 worth of stock.

C: Building with value of $50,000 with a basis to C of $45,000. C receives $40,000 worth of stock plus

$5,000 of cash and $5,000 of other property.

D: Transfers personal services of $30,000 and receives $30,000 worth of stock.

1. How much income, if any, must D recognize?