Ann Transferred Land Worth $500,000, with a Tax Basis of $150,000

Ann transferred land worth $500,000, with a tax basis of $150,000, to Brown Corporation, an existing entity, for 200 shares of its stock.Brown Corporation has two other shareholders, Bill and Bob, each of whom holds 100 shares.With respect to the transfer:

A) Ann has no recognized gain.
B) Brown Corporation has a basis of $350,000 in the land.
C) Ann has a basis of $500,000 in her 200 shares in Brown Corporation.
D) Ann has a basis of $150,000 in her 200 shares in Brown Corporation.
E) None of the above.