Question: Another exact question with 2 different answers: Dan owns 50% of R Corp's stock. On June 21, 20X1, Dan transferred land worth $60,000 to R

Another exact question with 2 different answers: Dan owns 50% of R Corp's stock. On June 21, 20X1, Dan transferred land worth $60,000 to R in exchange for 35% of R's stock (FMV of $50,000) and $10,000 cash. Dan's basis in the land was $35,000. What is Dan's recognized gain on the transaction? A. $5,000 B. $10,000 C. $15,000 D. $50,000 Chegg answers show both A&B. What is the correct answer??

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