Dick, a cash basis taxpayer. Incorporates his sole proprietorship. He transfers the following items to newly created Orange Corporation Cash Building Mortgage payable (secured by the building and held for 15 years) Adiusted Basis $10,000 120,000 135,000 Fair Market Value $10,000 175,000 135,000 With respect to this transaction: a. Dick has a recognized gain of $10,000. b. Dick has no recognized gain. c. Orange Corporation's basis in the building is $120,000. d. Dick has a recognized gain of $5,000. Oe. None of these choices are correct