Exercise 18-22 (LO. 1, 2, 3) Diego transfers real estate with an adjusted basis of $260,000 and fair market value of $350,000 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 $300,000. Determine Diego's recognized gain on the transfer and the basis for his stock. If amount is zero, enter "0". Diego has a recognized gain on the transfer of $ and a basis of $ for his stock.