Leo transfers equipment with a basis of $$40,000$ and a fair market value of $$100,000$ for $100\%$ of the stock in Green Corporation. Leo had claimed tax depreciation on the equipment, prior to transferring it to Green Corporation, in the amount of $$50,000.$ With respect to the transfer, will Leo need to recognize any gain for tax purposes? If so$,$ how much? IF gain is recognized, will there be any depreciation recapture and, if so$,$ how much?