Jesse incorporates her sole proprietorship on January 1, 2018 by transferring all of her assets to newly formed Excavation, Inc., a calendar year C-corporation, for all 100 shares of Excavation stock, with a FMV or $128,000, and five $10,000 interest-bearing notes that mature consecutively on the first five anniversaries of the incorporation date. The assets transferred are as follows:

Assets Adjusted Basis FMV
Cash 14400 14400
Equipment 135000
Minus: Accumulated Depreciation 65000 70000 60800
Building 85000
Minus: Accumulated Depreciation 50000 35000 51200
Land 25600 33600
Total 45000 160000

Requirement:
a. What are the amounts and character of Jesse's recognized gains or losses?
b. What is Jesse's basis in the Superior stock andnotes?
c. What is Superior's basis in the property received from Jesse?