Ramon incorporated his sole proprietorship by transferring inventory, a building, and land to the corporation in return for $100$ percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases:FMVAdjusted Tax BasisInventory$ $28,750$$ $5,200$Building$68,75051,750$Land$136,00072,000$Total$ $233,500$$ $128,950$The fair market value of the corporation's stock received in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon.a$.$ What amount of gain or loss does Ramon realize on the transfer of the property to his corporation?b$.$ What amount of gain or loss does Ramon recognize on the transfer of the property to his corporation?c$.$ What is Ramon's basis in the stock received in the new corporation?