10. Lily owns an apartment building held for investment purposes. The apartment building is worth $500,000, although it is subject to a mortgage of $100,000. Lily's basis in the apartment building is $380,000. Lily exchanges the apartment building for an office building. The office building has an FMY of $350,000. Lily receives $50,000 cash in addition to receiving the office building, and the other party assumes the apartment building mortgage. What is Lily's recognized gain on this exchange? I A) $0 B) $50,000 C) $120,000 D) $150,000