Dan owns 50% of R Corp's stock. On June 21,20X1, Dan transferred land worth $60,000 to R in exchange for 35% of R's stock (FMV of $50,000) and $10,000 cash. Dan's basis in the land was $35,000. What is Dan's recognized gain on the transaction? A.) $5,000 B.) $10,000 C.) $15,000 D.) $50,000