You and a friend from school formed a business that has become wildly successful. Now you are taking the company public in an IPO. You and your friend initially formed the corporation by each contributing $10,000 in cash, each receiving 1 million shares of stock, and pre-IPO remain the only shareholders in the corporation. In the IPO the company issues 2 million new shares of stock to new investors, raising $150 million. In the IPO, how much taxable gain does the corporation recognize? A. $0 B. $150 million

C. $149.998 million D. $50 million E. None of the above