Josie owns 70 % and Eva 30 % of JE , Inc. (JEI ) Josie sells land with a fair market value of $1,000,000 and a tax basis of $1,300,000 to JEI for $1,000,000. Two years later JEI sells the land to an unrelated third party for $1,200,000. What gain or loss do Josie and JEI recognize as a result of these transactions ? O A. Josie recognizes a $300,000 loss and JEI recognizes a $200,000 gain. OB. Josie recognizes no gain or loss and JEI recognizes a $200,000 gain. OC. Josie recognizes no gain or loss and JEl recognizes a $100,000 loss. O D. Neither Josie nor JEI recognize any gain or loss.