Ferris Corporation received $$15,000$ cash and property valued at $$30,000$ in a complete liquidation of its holdings in Bowler Corp., a wholly owned subsidiary. Ferris' basis in Bowler stock was $$1,000$ and Bowler's basis in the property was $$10,000.$ What is Ferris Corp.$\text{'}$s gain or loss realized and recognized on the exchange of stock for Bowler assets and what is its basis in the non$-$cash property received?

Multiple choice question.

Realized gain $=$ $$44,000$; Recognized gain $=$ $$0$; Basis $=$ $$30,000$

Realized gain $=$ $$44,000$; Recognized gain $=$ $$44,000$; Basis $=$ $$30,000$

Realized gain $=$ $$44,000$; Recognized gain $=$ $$0$; Basis $=$ $$10,000$

Realized gain $=$ $$44,000$; Recognized gain $=$ $$44,000$; Basis $=$ $$10,000$