Question: Please no hand written solution Edward and Deborah form and fund a C corporation in a 351 exchange. Deborah transfers property with an adjusted basis

Please no hand written solution

Edward and Deborah form and fund a C corporation in a 351 exchange. Deborah transfers property with an adjusted basis of $150,000 and an FMV of $200,000 in exchange for one-half of the stock. The property has an $80,000 mortgage, which the corporation assumes. Deborah has a recognized gain of: Select one: O a. $0. O b. $70,000. O c. $100,000. O d. $80,000

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