Exercise 18-21 (Algorithmic) (LO. 1, 2) Jocelyn contributes land with a basis of $44,000 and fair market value of $66,000 and inventory with a basis of $7,600 and fair market value of $11,400 in exchange for 100% of Zion Corporation stock. The land is subject to a $11,000 mortgage. Determine Jocelyn's recognized gain or loss and the basis in the Zion stock received. If an amount is zero, enter "O". The exchange is tax-free under 351 because the release of a liability treated as boot under 357(a). As a result, Jocelyn has income of $ and a basis $ in her stock