Albert transfers land with a basis of $140,000 and worth $320,000 to Gold Corporation for 80% of its stock plus a note payable in the amount of $80,000. Gold assumes Albert's mortgage on the land of $200,000. a. Albert has a recognized gain on the transfer of $140,000. b. Gold Corporation has a basis in the land of $220,000. c. Albert's total recognized gain on the transfer is $80,000. d. Albert's total recognized gain on the transfer is $60,000.