Justin and Margaret formed the Maple Corporation on January 1, 2023. Justir contributed land with a fair market value of $230,000 and a basis of $60,000. The land is subject to a mortgage of $80,000, which the corporation assumed. Justin received 150 shares of Maple Corporation stock in the exchange. Margaret contributed inventory worth $10,000 with a basis of $8,000 and equipment worth $40,000 with a basis of $15,000. Margaret received 50 shares of Maple Corporation stock in the exchange. 1. What is Justin's realized gain or loss on the exchange? 2. What is Justin's recognized gain or loss on the exchange? 3. What is Justin's basis in his 150 shares of Maple Corporation stock? 4. What is Margaret's realized gain or loss on the exchange? 5. What is Margaret's recognized gain or loss on the exchange? 6. What is Margaret's basis in her 50 shares of iMaple Corporation stock? 7. What is Maple Corporation's basis in the land received from Justin? 8. What is Maple Corporation's basis in the inventory received from Margaret? 9. What is Maple Corporation's basis in the equipment received from Margaret