Erica Transfers Land Worth $500,000, Basis of $100,000, to a Newly

Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for all of Robin's stock, worth $300,000, and a 10-year note. The note was executed by Robin and made payable to Erica in the amount of $200,000. As a result of the transfer:

A) Erica does not recognize gain.
B) Erica recognizes gain of $400,000.
C) Robin Corporation has a basis of $100,000 in the land.
D) Robin Corporation has a basis of $300,000 in the land.
E) None of these.