Jocelyn contributes land with a basis of $60,500 and fair market value of $90,750 and inventory with a basis of $22,600 and fair market value of $33,900 in exchange for 100% of Zion Corporation stock. The land is subject to a $15,125 mortgage.

If an amount is zero, enter "0"

The exchange Selectisis notItem 1 tax-free under 351 because the release of a liability Selectisis not Item 2 treated as boot under 357(a). As a result, Jocelyn has income of $_______ and a basis $ __________ in her stock.