Corporation K distributed an airplane to its sole shareholder, Mr$.$ P$.$ On the date of distribution, the airplane had a fair market value of $$50,000$ and an adjusted basis to Corporation K of $$12,000.$ What is Corporation K$$s recognized gain on the distribution?

A$.$

$$50,000$

B$.$

$$38,000$

C$.$

$$12,000$

D$.$

$$0$