Ron and Hermione formed Wizard Corporation on January 2 Ron contributed cash of $340,000 in return for 50 percent of the corporation's stock. Hermione contributed a building and land with the following fair market values and adjusted bases in return for 50 percent of the corporation's stock Building Land Total FMV $176,000 264.000 $440,000 Tax- Adjusted Basis $ 44,880 176,000 $220,000 To equalize the exchange, Wizard Corporation paid Hermione $100,000 in addition to her stock Assume Hermione's adjusted basis in the land was $340,000 f. What amount of gain or loss does Hermione realize on the formation of the corporation? What amount, if any, does she recognize? (Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign.)