Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases: FMVAdjusted Tax Basis Inventory$ 24,000$ 12,000 Building180,000120,000 Land276,000360,000 Total$ 480,000$ 492,000 The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $380,000. Note: Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Problem 08-40 Part a (Algo) a. What amount of gain or loss does Zhang realize on the transfer of the property to the corporation?