Andre receives $50$ shares of stock with a fair market value of $$200,000$ plus $$50,000$ cash in exchange for his contribution of machinery, land and inventory valued at $$40,000,$ $$150,000$ and $$60,000,$ respectively. How does Andre allocate the boot for purposes of calculating recognized gain?

Multiple choice question.

Machinery $$20,000$; inventory $$30,000$; land $$0$

Machinery $$8,000$; land $$30,000$; inventory $$12,000$

Machinery $$10,526,$ land $$39,473$; inventory $$0$