What is the shareholder\'s basis in stock of a corporation received as a result of the transfer of property to the corporation and as a result of which no gain or loss was recognized by the stockholder?

a. shareholder\'s basis is equal to FMV of stock received

b. shareholder\'s basis is equal to the FMV of stock received, less any liabilities transferred by the shareholder

c. shareholder\'s basis is equal to the basis of the property transferred to the corporation, plus any liabilities transferred by the shareholder

d. shareholder\'s basis is equal to the basis of the property transferred to the corporation, minus any liabilities transferred by the shareholder