Gearty and Olinto organized The Worthington Corp., which issued voting common stock with a fair market value of $$240,000.$ They each transferred property in exchange for stock as follows:

$\backslash$table$[[,$Property,$\backslash$table$[[$Adjusted$],[$Basis$]],\backslash$table$[[$Fair Market$],[$Value$]],\backslash$table$[[$Percentage of The Worthington$],[$Corp$.$ Stock Acquired$]]],[$Gearty$,$Building,$$80,000,$$$164,000,60\%$