Mr. Brown transferred an office building to Corp J in exchange for 100% of Corp J's stock and $30,000 in cash. The building had an adjusted basis of $150,000 and a FMV of $250,000. The building was subject to a mortgage of $120,000, which Corp J assumed for a valid business reason. The FMV of Corp J's stock on the date of the transfer was $100,000. What is Mr. Brown's recognized gain? A. $0 B. $30,000 C. $70,000 D. $100,000