During 2013, Ral Corp. exchanged 5,000 shares of its own
$10 par common stock for land with a fair market value of
$75,000. As a result of this exchange, Ral should report in its
2013 tax return

(d) The requirement is to determine the amount of gain
to be recognized by Ral Corp. when it issues its stock in exchange
for land. No gain or loss is ever recognized by a corporation on
the receipt of money or other property in exchange for its own
stock (including treasury stock).