PSll#10 Austin owns a 20% interest in Hayes Partners, a general partnership. The partnership allocates prots and losses among partners in proportion to their interests in partnership capital. At the end of the year, the partnership had the following balance sheets (tax basis and FMV): Basis FMV Buildings $ 100,000 $200,000 Land 200 000 450 000 $300,000 $650,000 Liabilities $450,000 $450,000 lCapital, Austin (30,000) 40,000 ( 120,000 Capital, other partners 1 160 000 $300,000 $650,000 Austin is considering transferring his interest in Hayes Partners to his whollyowned corporation in exchange for additional stock. i. Will Austin be required to recognize any gain in connection with the transfer to the corporation? If so, how much