Exercise 4-22 (Algorithmic) (LO. 1, 2, 3) Diego transfers real estate with an adjusted basis of $567,000 and fair market value of $793,800 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 $674,730. 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 $ 104,804 X and a basis of $ o for his stock. Feedback Check My Work Generally, when liabilities are assumed by another party, the party who is relie