Beth contributes her real estate (basis of 475000 fmv of 271000

To incorporate his business, Blyden contributes his warehouse (basis of $260,000, FMV of $540,000) in exchange for 20,000 shares of Blyden Corporation as the sole shareholder, worth $373,000 along with $44,000 cash The corporation also assumes his business related liabilities in the amount of $139,000. Blyden's recognized gain amounts to: A $0 B $296,000 $44,000 D some other amount