Hilma forms a new corporation ("Newco") and transfers land (value $100,000; basis $140,000) in exchange for 1,000 shares of Newco common stock with a value of $100,000. Under I.R.C. section 351(a), Hilma may not recognize her $40,000 built-in loss upon the transfer of the land to Newco. What is Hilma's basis in the Newco stock and Newco's basis in the land? [Please consult I.R.C. section 362(e) in answering]