Abdul and Shereen form Great Corporation. Abdul transfers land with an adjusted basis of $$70,000$ and a fair market value of $$100,000$ for $50\%$ of the stock, worth $$100,000.$ Shereen transfers equipment with an adjusted basis of $$80,000$ and a fair market value of $$100,000,$ for the remaining $50\%$ of the stock. Which of the following statements regarding the results of the transfer is true?

a$.$ Abdul has a basis of $$70,000$ in the stock.

b$.$ Abdul has a realized and recognized gain of $$30,000.$

c$.$ Shereen has received boot of $$20,000.$

d$.$ Shereen has a basis of $$100,000$ in the stock.

e$.$ Shereen has a realized and recognized gain of $$20,000.$