Jacob and Ashley Form Junco Corporation with the Following Investments

Jacob and Ashley form Junco Corporation with the following investments:
From Jacob
From Ashley
Cash
$200,000
Equipment (basis of $400,000;fair market value of $300,000)
300,000
Land (basis of $300,000;fair market value of $600,000)
$600,000
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Jacob and Ashley each receive one-half of the Junco stock.In addition,Ashley receives cash of $100,000.One of the results of these transfers is:

A) Jacob has a recognized loss of $100,000.
B) Ashley has a recognized gain of $300,000.
C) Junco Corporation has a basis in the land of $400,000.
D) Ashley's basis in the Junco Corporation stock is $500,000.
E) None of the above.