Kristina incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted bases: FMV Adjusted Basis Inventory $88,000 $44,000 Building 1,100,000 440,000 Land 2,332,000 1,320,000 Total $3,520,000 $1,804,000 The corporation also assumed a mortgage of $1,860,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $1,660,000. The transaction met the requirements to be tax-deferred under 5351 How much, if any, gain or loss does Kristina recognize on the exchange