Adam transfers property with an adjusted basis of $50,000 (fair market value of $400,000) to Swift Corporation for 90% of the stock. The property is subject to a liability of $60,000, which Swift assumes.

If an amount is zero, enter "0".

a. What is the basis of the Swift stock to Adam? Adam recognizes a gain of $_____and the basis of the Swift stock to Adam is $____

b. What is the basis of the property to Swift Corporation? The basis of the property to Swift Corporation is $____.