Diego transfers real estate with an adjusted basis of $373,400 and fair market value of $522,760 to a newly formed corporation in exchange for 100% of the stock. The corporation assumes the liability on the transferred real estate in the amount of $444,346. Determine Diego's recognized gain on the transfer and the basis for his stock. If amount is zero, enter "o". Diego has a recognized gain on the transfer of $ and a basis of $ for his stock