what is the answer to this?

Sam owns a farm. Concemed about liability - those dam lawyers who represent folks who got sick from eating a bad vegetable grown on Sam's farm! In the current year, Sam incorporates his business by forming Farm Corporation ("FARM"). In exchange for (a) all of FARM'S stock (FMV $900,000 ) and (b) FARM's note payable of $300,000, FARM receives Sam's wonderful farm (basis of $200,000 and fair market value of $1.2 million). 13. Does Sam realize any gain on the incorporation? If so, how much? Explain. 14. Does Sam recognize any gain on the incorporation? If so, how much? Explain. 15. What basis does Sam have in the FARM stock? Explain. What basis does Farm Corporation have in the "business assets" - the farm - it receives from Sam