A, B, and C, all cash basis individuals, form the accrual basis XYZ Corporation on 1/1/2021. A transfers $50,000 cash in exchange for 1/3 of XYZ outstanding stock, while B transfers a section 1231 asset (basis $10,000; FMV $50,000) in exchange for 1/3 of XYZ outstanding stock. C transfers both property and services to the corporation in exchange for 1/3 of outstanding XYZ stock. The services have a FMV of $47,000, and the property has a basis of $4,000 and a FMV of $3,000. All exchanges occurred on 1/1/2021 and all shareholders have equal interests after the exchanges. What is the gain recognized by shareholder B on the exchange?