Ramona and Hermione formed Wiley Corporation on January 2. Ramona contributed cash of $215,000 in return for 50 percent of the corporation's stock. Hermione contributed a building and land with the following fair market values and adjusted tax bases in return for 50 percent of the corporation's stock: To equalize the exchange, Wiley Corporation paid Hermione $53,750 in addition to her stock. f. Assume Hermione's adjusted tax basis in the land was $215,000. What amount of gain or loss does Hermione realize on the formation of the corporation? What amount, if any, does she recognize? Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. g. Assume Hermione's adjusted tax basis in the land was $215,000. What adjusted tax basis does Wiley Corporation take in the land and building received from Hermione? Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. h. Assume Hermione's adjusted tax basis in the land was $268,750. What amount of gain or loss does Hermione realize on the formation of the corporation? What amount, if any, does she recognize? Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. i. Assume Hermione's adjusted tax basis in the land was $268,750. What adjusted tax basis does Wiley Corporation take in the land and building received from Hermione? Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. j. Assume Hermione's adjusted tax basis in the land was $268,750. What election can Hermione and Wiley Corporation make to allow Wiley Corporation to take a carryover basis in the land