In $2024,$ Ariel and Jeb form AJ$,$ Inc., a C$-$corporation.$$ Ariel contributed $$150,000$ in cash in exchange for $1,000$ shares in AJ$.$ Jeb contributed an asset with a fair market value of $$170,000$ and an adjusted basis of $$130,000$ in exchange for $$20,000$ of cash and $1,000$ shares of AE stock.

Question $9$ options:

a$.$ Jeb will recognize a $$20,000$ gain.

b$.$ Jeb will recognize a $$20,000$ loss.

c$.$ Jeb's basis in AE stock is $$130,000.$ AJ basis in the property contributed by Jeb is $$130,000.$

d$.$ Both a$.$ and c$.$

None of the above.