Question - During the year, Bryam trasnsferred land with an adjusted basis of $25,000 and a fair market value of $47,000 to Corporation F. In exchange for the land received $5,000 cash, equipment with an adjusted basis of $3,000 and a fair market value of $5,000, and 80% of Corporation F's only class of stock. The stock received by Bryan had a fair market value of $37,000. What is the amount of gain that Bryan will recognize?
$7,000
$10,000
$12,000
$22,000