Sam created MNO Inc. several years ago and has owned all 10 outstanding shares of MNO Inc. since the creation of MNO Inc. The fair market value of those shares is now $50,000. Sam's friend, Kal, owns a building having a fair market value of $450,000 and an adjusted basis to Kal of $100,000. The building is encumbered by a $130,000 mortgage. Earlier this month, Sam and Kal discussed Sam's becoming involved in the business of MNO Inc., and as a result of these discussions, Kal transferred the building to MNO Inc. and in exchange for the building, MNO Inc. transferred to Kal 90 shares of authorized but not previously issued stock of MNO Inc. How much gain does Kal realize and recognize as a result of these transfers?