A (a cash-basis individual) forms JUF Corporation by transferring $50,000 cash in exchange for $50,000 of stock. B (a cash-basis individual) transfers two assets: (1) a capital asset with a basis of $5,000 and a FMV of $30,000; and (2), equipment with a cost basis of $15,000, an adjusted basis of $5,000, and a FMV of $20,000 in exchange for $5,000 of stock and $45,000 cash. The transaction meets the requirements of section 351. What is the amount and character of the gain recognized, if any, by B?