Abraham and Mary formed Lincoln Inc. by transferring assets…

Abraham and Mary formed Lincoln Inc. by transferring assets in exchange for the 3,000 shares of Lincoln stock outstanding. Abraham transferred assets with a $850,000 fair market value and a $535,000 basis and received 1,800 shares. Mary transferred assets with a $575,000 fair market value and a $120,000 basis and received 1200 shares. What is the gain realized and recognized by Abraham and Mary on the exchange?