Jocelyn contributes land with a basis of $50,000 and fair market value of $75,000 and inventory with a basis of $24,400 and fair market value of $36,600 in exchange for 100% of Zion Corporation stock. The land is subject to a $12,500 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 $ in her stock