Rob transferred the following assets and liabilities to Warble Corporation.

Adjusted Basis Fair Market Value

Building $$210,000$ $$225,000$

Equipment $45,00075,000$

Trucks $15,00030,000$

Mortgage$($held $30,00030,000$

for four years$)$ on building

In return, Rob received $$75,000$ in cash plus $90\%$ of Warble Corporation's only class of stock outstanding $($fair market value of $$225,000).$