Jane transfers property (basis of $180,000 and fair market value of $500,000) to green corporation for 80% of its stock (worth $425,000) and a long-term note (worth $75,000), executed by green corporation and made payable to jane. as a result of the transfer: a. jane recognizes no gain. b. jane recognizes a gain of $75,000.c. jane recognizes a gain of $270,000.d. jane recognizes a gain of $320,000.e. none of the above.

The quinoa seed is in high demand in wealthier countries such as the u.s. and japan. approximately 97% of all quinoa production comes from small farmers in bolivia and peru who farm at high elevations—8,000 feet or higher. the seed is considered highly nutritious. mostly grown and harvested in bolivia and peru, and sold to markets in other countries, the seed is now considered an important for these nations. the governments of bolivia and peru are hopeful that this product will increase the quality of life of their farmers.