Zhang incorporated her sole proprietorship by transferring inventory, a building and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market value and adjusted basis EMY Adiusted Bass Inventory $ 20,000 $ 12,000 Building 150,000 100.000 Land 230.000 300.000 Total $ 400.000 $.412 000 The corporation also assumed a mortgage of $100.000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $300,000. The transaction met the requirements to be tax deterred under $351. What amount of gain or loss does Zhang recognize on the transfer of the property to her corporation 0 QUESTIONS Based upon the facts in the prior question what is hangstax basis in the stock she receives in the exchange? 2 point QUESTION 6 Based on the facts in the two prior questions, what is the corporation's adjusted basis in the land received in the exchange? 400000 2 por