Jocelyn contributes land with a basis of $24,500 and fair market value of $36,750 and inventory with a basis of $17,800 and fair market value of $26,700 in exchange for 100% of Zion Corporation stock. The land is subject to a $6,125 mortgage. Determine Jocelyn's recognized gain or loss and the basis in the Zion stock received. If an amount is zero, enter "0". The exchange tax-free under 351 because the release of a liability treated as boot under 357(a). As a result, Jocelyn has income of $ and a basis $X in her stock