Question: Albert contributes to CarlCo, a newly formed corporation, property worth $80,000 with a basis of $60,000 in exchange for 2,000 shares. Assume the stock is worth $1,000 per share. As part of the same transaction, Barry (an employee of Albert) contributes to CarlCo property worth $20,000 with a basis of $10,000 in exchange for 8,000 shares. How much income must Albert and Barry recognize? (Assume that if § 351 applies, Albert's basis in the stock he receives is the same as his basis in the property.)