Jasmine transferred 100 percent of her stock in Emerald Company to Jade Corporation in a Type A merger. In exchange she received stock in Jade with a fair market value of $1,030,000 plus $1,402,500 in cash. Jasmine's tax basis in the Emerald stock was $1,148,000. What amount of gain does Jasmine recognize in the exchange and what is her basis in the Jade stock she receives?