Sam and Maude $($both individuals$)$ form S&M Corporation. Sam contributes cash of $$100,000$ and Maude contributes property with a basis of $$40,000$ and a fair market value of $$100,000.$ If Sam and Maude own all of the stock in S&M Corporation immediately after the transfer, what is Maude's recognized gain on the transfer?

a$.$ $$0$

b$.$ $$50,000$

c$.$ $$20,000$

d$.$ $$30,000$