Jake transferred several assets and liabilities to Nine-Nine Corporation: Adjusted Basis FMV Warehouse (Section 1231 asset) $309,000 $483,000 Furniture (Section 1231 asset) 62,000 102,000 Delivery Van (Section 1231 asset) 18,000 39,000 Mortgage (held for 7 years) on warehouse 112,000 In return for the transferred assets and liabilities, Jake received $90,000 in cash plus 81% of Nine-Nine Corporation's only class of outstanding stock worth $422,000. 

Determine 

(1) Jake's total realized gain; 

(2) Jake's total recognized gain; 

(3) Jake's basis in Nine-Nine Corporation stock;

(4) Nine-Nine Corporation's basis in each item of property received. 

Hint: Recall that any gain recognized is determined by allocating boot pro rata to each property item using relative fair market value