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 Jel sells the land to an unrelated third party for $1.200,000. What gain or loss de Josie and JEl recognize as a result of these transations? OA. Neither Josie nor JEl recognize any gain or loss. OB. Josie recognizes a $300,000 loss and JEl recognizes a $200,000 gain. OC. Josie recognizes no gain or loss and JEl recognizes a $100,000 loss. OD. Josie recognizes no gain or loss and JEl recognizes a $200,000 guin