Exchange, Charlie transferred property with an adjusted basis of $$125,250$ and a fair market value $($FMV$)$ of $$145,000$ to a recently established corporation. In return, Charlie received stock valued at $$95,000$ and a short$-$term note with an FMV of $$32,650.$

Requirements:

 A $-$ Based on the information provided, what is Charlie's realized gain?

B $-$ Based on the information provided, what is Charlie's recognized gain?

C $-$ Please explain the difference between realized vs recognized gain.