Mito Company exchanged cash of $50,000 plus land and building worth $900,000 (the tax basis of the asset was $574,800 including the original cost of land of $200,000 and building of $500,250, less accumulated depreciation on the building of $125,450) for a like-kind building worth $950,000. As a result, Mito must recognize:

A.$325,200 gain.

B.No gain or loss

C.$125,450 gain.

D.$50,000 gain.

E. None of the above