Ms. A formed a new corporation which she owns 100% on January 1, 20xx, MM, Inc. She contributed an e-mail server to the corporation. The e-mail server had a basis of $90,000. The e-mail server had a debt on it of $150,000 which was contributed along with the server. The e-mail server had a fair market value of $190,000 based upon its value as a collectible as Ms. A was not the original owner. Ms. A owned 100% of the stock. What is Ms.A's gain or loss resulting from the contribution, if any? What is Ms.A's basis in the corporation? What is the corporation's basis in the equipment?