. Erin transfers property worth $200,000 (basis of $190,000) to Goldfish Corporation. In return, she receives 80% of the stock in Goldfish Corporation (fair market value of $180,000) and a long-term note (fair market value of $20,000) executed by Goldfish and made payable to Erin. Erin recognizes gain on the transfer of: a. $0. b. $10,000. c. $20,000. d. $190,000. e. None of these.