Ann transferred land worth $200,000 with a tax basis of $40,000 to Brown Corporation, an existing entity, for 100 shares of its nonqualified preferred stock. Brown Corporation has two other shareholders, Bill and Bob, each of whom holds 10 shares. With respect to the transfer: Brown Corporation has a basis of 5160,000 in the land Ann has a basis of 440,000 in her 100 shares in Brown Corporation. Ann har a basis of 5200,000 in her 100 shares in Brown Corporation. Ann has no recognized gain. None of the other choices are correct