For the reason we consider rather than , click here.
Let us define a functor from to , whcih is the category of rng with base point.
, and .
Then we claim that is the left adjoint of the forgetful functor from to
Proof. Let be a rng homomorphism, then
For any morphism , .
Easy to see that and , and check this gives you the natural isomorphism.
Corollary. will preserve colimit. In particular, coequalizer.

In particular, we have .
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