Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporations stock. The property transferred to the corporation had the following fair market values and adjusted bases:

	FMV			Adjusted Basis
Inventory	$	72,000		$	36,000
Building		540,000			360,000
Land		828,000			1,080,000
Total	$	1,440,000		$	1,476,000

The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporations stock received in the exchange was $1,340,000. The transaction met the requirements to be tax-deferred under 351. (Negative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)

Assume the corporation assumed a mortgage of $1,540,000 attached to the building and land. Assume the fair market value of the building is now $900,000 and the fair market value of the land is $1,908,000. The fair market value of the stock remains $1,340,000. e. How much, if any, gain or loss does Zhang recognize on the exchange assuming the revised facts? f. What is Zhangs tax basis in the stock she receives in the exchange? g. What is the corporations adjusted basis in each of the assets received in the exchange? (Do not round intermediate calculations.)