Mr. Trent transferred three apartment buildings to a new corporation in exchange for all its stock. The facts pertaining to the buildings were:

Building	Basis	Value	Mortgage	Recapture Potential
1	$10,000	$100,000	$60,000	$0
2	15,000	80,000	0	5,000
3	20,000	30,000	0	4,000

a- What gains are realized and recognized in each building?

b- What is the character of the gains?

c- What is the corporation's basis in each building?

d- What is Mr. Trent's basis in his stock?