You transfer property with an adjusted basis of $20,000 and a FMV of $31,000 in exchange for 100% of the stock in a new corporation. You receive 100 shares of stock having a FMV of $16,000 and 10,000 cash. The corporation also assumes a 5,000 mortgage on the property. Which of the following is true...

A. 10,000 gain realized; 5 recognized

B. 15 gain realized ; 11 recognized

c. 11,000 gain realized; 0 recognized

d, 11,000 grain realized; 10,000 recognized