Kal owns an apartment building held for investment purposes. The apartment building is worth $500,000, although it is subject to a mortgage of $100,000. Kai's basis in the apartment building is $380.000. Kai exchanges the apartment building for an office building. The office buiding has an FMV of $350.000. Kai recelves $50.000 cash in addition to recelving the office building, and the other party assumes the apartment building mortgage. What is Kai's recognized gain on this exchange? $120.000 50 $150,000 $50,000