d. What is the corporation's adjusted tax basis in each of the assets recelved in the exchange? 1. Suppose the corporation assumed a mortgage of $740,000 attached to the building and land. The fair market value of the building is $400,000 and the fair market value of the land is $848,000. The fair market value of the stock remains $540.000 What is Zhang's tax basis in the stock received in the exchange? 9. Suppose the corporation assumed a mortgage of $740,000 attached to the building and land. The fair market value of the building is $400,000 and the fair market value of the land is $848,000. The fair market value of the stock remains $540,000 What is the corporation's adjusted tax basis in each of the assets received in the exchange? Note: Do not round intermediate calculations. Required information Problem 19.40 (LO 19-2) (Algo) [The following information applies to the questions displayed below] Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases: The corporation also assumed a mortgage of $100,000 attoched to the building and land. The fair market value of the corporation's stock received in the exchange was $540,000 Note: Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Problem 19.40 Part b (Algo) b. What amount of gain or loss does Zhang recoginize on the transfer of the property to the corporation? c. What is Zhang's tax basis in the stock recelved in the exchange? e. Suppose the corporation assumed a mortgage of $740,000 ottached to the building and land. The fair market value of the bulding is $400,000 and the fair market value of the land is $848,000. The fair market value of the stock remains $540,000 How much, if any, gain or loss does Zhang recognize on the exchange assuming the revised facts