L$0\mathrm{.}1$ On January $7,2022,$ Martin Corporation acquires two properties from a shareholder solely in exchange for stock in a transaction that qualifies under $$351.$ The shareholder's basis, the fair market value, and the built$-$in gain $($loss$)$ of each property are:

$\backslash$table$[[,$Shareholder's Basis,Fair Market Value,Built$-$In Gain $($Loss$)],[$Property $1,$$$300,000,$$$375,000,$$$75,000$