Edward and Deborah form and fund a C corporation in a 351 exchange. Deborah transfers property with an adjusted basis of $150,000 and an FMV of $200,000 in exchange for one-half of the stock. The property has an $80,000 mortgage, which the corporation assumes. Deborah has a recognized gain of: Select one: a. $0. b. $70,000. c. $100,000. d. $80,000