During 2018, Jones transferred \(\$ 15,000\) cash and a building with an adjusted basis of \(\$ 50,000\) and a fair market value of \(\$ 90,000\) to Malibu Gardens Corporation in return for 90 percent of its only class of stock. In addition, for a bona fide business purpose, Malibu Gardens assumed the \(\$ 65,000\) outstanding mortgage on the building. What is the amount of Jones's recognized gain on the transfer?

a. \(\$ 0\)

b. \(\$ 5,000\)

c. \(\$ 15,000\)

d. \(\$ 25,000\)

e. None of the above