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 values and adjusted bases:

FMV Adjusted Basis

Inventory $ $100,000$ $ $50,000$

Building $750,000500,000$

Land $1,150,0001,500,000$

Total $ $2,000,000$ $ $2,050,000$

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 $$1,900,000.$ The transaction met the requirements to be tax$-$deferred under $351.$ a$.$ What amount of gain or loss does Zhang realize on the transfer of the property to her corporation? b$.$ What amount of gain or loss does Zhang recognize on the transfer of the property to her corporation? c$.$ What is Zhang$$s tax basis in the stock she receives in the exchange? d$.$ What is the corporation$$s adjusted basis in each of the assets received in the exchange? Assume the corporation assumed a mortgage of $$2,100,000$ attached to the building and land. Assume the fair market value of the building is now $$1,250,000$ and the fair market value of the land is $$2,650,000.$ The fair market value of the stock remains $$1,900,000.$

e$.$ How much, if any, gain or loss does Zhang recognize on the exchange assuming the revised facts?