Bob and John make the following transfers to Builders Corporation in return for 100% of the stock in the corporation: Asset and Value Transferred to Builders Asset and Value Transferred to Shareholder Percentage of Stock Received Bob $100,000 cash $10,000 land 80% John $30,000 property (basis of $10,000) $5,000 cash 20% What is the amount of gain Bob and John must recognize on the transfers? A. Bob must recognize $10,000 gain and John must recognize $25,000 gain. B. Bob recognizes no gain and John recognizes $5,000 gain. C. Bob recognizes $10,000 gain and John recognizes $5,000 gain. D. Bob recognizes $10,000 gain and John recognizes $20,000 gain.