Jocelyn contributes land with a basis of $51,500 and fair market value of $77,250 and inventory with a basis of $6,400 and fair market value of $9,600 in exchange for 100% of Zion Corporation stock. The land is subject to a $12,875 mortgage.

If an amount is zero, enter "0".

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 $ 0 and a basis $_____ in her stock.