Nikeya sells land $($adjusted basis of $$120,000)$ to her adult son, Shamed, for its appraised value of $$95,000.$ Which of the following statements is correct?

a$.$ Shamed's adjusted basis for the land is $$120,000($$$95,000$ cost $+$ $$25,000$ disallowed loss for Nikeya$).$

b$.$ If Shamed subsequently sells the land for $$112,000,$ he has no recognized gain or loss.

c$.$ Nikeya's recognized loss is $$25,000($$$95,000$ amount realized $$ $$120,000$ adjusted basis$).$

d$.$ Only "Nikeya's recognized loss is $$25,000($$$95,000$ amount realized $$ $$120,000$ adjusted basis$)"$ and "Shamed's adjusted basis for the land is $$120,000($$$95,000$ cost $+$ $$25,000$ disallowed loss for Nikeya$)"$ are correct.