Roland owns $75\%$ of the stock of Dark Tower Corp worth $$337500$ and Jake owns the remaining $25\%$ of the stock $($formed $5$ years ago$).$ On October $1,$ Roland transfers land with a basis of $$110000$ and a FMV of $$150000$ in exchange for stock in Dark Tower Corp worth $$130000$ and a $$20000$ note and Jake$$s brother transfers $$5000$ cash in exchange for $$5000$ worth of stock. Choose the correct answer.

a$.$ Roland realizes $$40000$ of gain and recognizes $$40000$ of gain on the transfer

b$.$ Roland realizes $$40000$ of gain and recognizes $$20000$ of gain on the transfer

c$.$ Roland realizes $$40000$ of gain and recognizes $$0$ of gain on the transfer

d$.$ Roland realizes $$20000$ of gain and recognizes $$0$ of gain on the transfer

e$.$ Roland realizes $$20000$ of gain and recognizes $$20000$ of gain on the transfer