The Alpha Corporation owns a building with a basis of $40,000 that is subject to a debt of $160,000. The FMV of the building is $100,000. Alpha distributes the property in a nonliquidating distribution (along with the debt) to Jen, its sole shareholder. What is Jen's basis in the building received from Alpha in the distribution?

a. $160,000.b. $100,000.c. zerod. $60,000.e. none of the above.