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 What gains are realized and recognized on the transfer of each building? What is the character of the gains? What is the corporation's basis in each building? What is Mr. Trent's basis in his stock?