Sam is a salesman for a real estate developer. His employer permits him to purchase a lot for $$80,000.$ The employer's adjusted basis in the land is $$70,000,$ and its normal selling price is $$85,000.$ What is Sam's compensation income from this transaction, and what is his basis in the property?

Compensation income $$15,000$ and basis $$70,000$

Compensation income $$0$ and basis $$80,000$

Compensation income $$5,000$ and basis $$80,000$

Compensation income $$5,000$ and basis $$85,000$