Myra transfers property wiht a tax basis of 400 and the fair market value of 500 to a corporation in exchange for stock with a fair market value of 350 in a transaction that qualifies for deferral under code section 351. The corporation assumed a liability of $150 on the property transferred as part of the consideration which was not done for tax avoidance purposes. What is Myras recognized gain on the exchange

a. 0

b. 50

c. 100

d. 500