Donald and Ivanka formed Power Hungry Corporation and each of them received 50% of the Corporation's stock. Donald transferred a building with a fair market value of $70,000 and a tax basis of $50,000. 7 Ivanka transferred equipment with a fair market value of $5,000 and a tax basis of $2,000 and she also provided services to the corporation with a value of $65,000. How much total income/gain does Ivanka recognize upon the formation of the company