Caldwell and Rosini form Animation Corporation. Caldwell transfers property $($basis of $$250,000$ and fair market value of $$150,000)$ while Rosini transfers land $($basis of $$100,000$ and fair market value of $$130,000)$ and $$20,000$ of cash. Each receives $50\%$ of Animation's stock. As a result of these transfers:

Group of answer choices

Caldwell has a recognized loss of $$100,000,$ and Rosini has a recognized gain of $$30,000.$

Neither Caldwell nor Rosini has any recognized gain or loss.

Caldwell has no recognized loss, but Rosini has a recognized gain of $$30,000.$

Animation Corporation will have a basis in the land of $$130,000.$