Jocelyn contributes land with a basis of $30,500 and fair market value of $45,750 and inventory with a basis of $11,200 and fair market value of $16,800 in exchange for 100% of Zion Corporation stock. The land is subject to a $7,625 mortgage. Determine Jocelyn's recognized gain or loss and the basis in the Zion stock received. If an amount is zero, enter "o". The exchange is tax-free under $ 351 because the release of a liability is not treated as boot under $ 357(a). As a result, Jocelyn has income of $ and a basis $ in her stock