Required information Problem 13-51 (LO 13-1) [The following information applies to the questions displayed below.] Jorge contributed land he held as an investment (fair market value $185,000; basis $68,750) and inventory (fair market value $95,250; basis $90,500) to ABC Corporation in exchange for 50 percent of the ABC stock (58 shares valued at $235,190) and $45,060 cash in a qualifying 8351 exchange. (Negative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Problem 13-51 Part c C. Assume the original facts in this example except that the inventory had an adjusted basis of $105,400 so that Jorge realized a $10,150 loss on the inventory (he still realized a $116,250 gain on the land). How much gain or loss would he recognize on the exchange? Land Inventory Gain recognized