Teddy Wilson January 30, 1936
Only Lord chooses to incorporate "Rhythm in My Nursery Rhymes" which is without Holiday. Meanwhile, despite doubts raised about McRae's presence on a TW session recorded shortly before this one (December 3, 1935), there is definitely a tenor saxophone and not alto on "Life Begins."
Although I don't know McRae's playing, it is a competent, Hawkins dervied tenor player, typical for that period, which would fit McRae's background and chronology. See the impressive resource on McRae at the University of Maryland: