William, Wally, and Wilma want to form a corporation. William has cash of $100,000; Wally has property valued at $100,000 with a basis of $80,000; and Wilma has property valued at $50,000 that has a $70,000 basis. Wally doesn't want to recognize his gain, but Wilma wants to recognize her loss because she has capital gains to offset the loss. As their tax advisor, develop several alternatives from which they can choose that would allow Wally to avoid gain recognition but allow Wilma to recognize her loss.