Prep Boys, a general partnership, has two general partners, Monny and Mobe with both owning a $50\%$ partnership interest. The partnership agreement allows for the additional of additional properties as long as the current partners agree with a majority vote. Both Monny and Mobe agree to admit Jock as the third partner as long as Jock contributes a process patent that Monny and Mobe desire. Mobe agrees to contribute the patent with a fair value of $$15$ million and an adjusted tax basis of $$1\mathrm{.}2$ million. After the transfer, Jock only has a $1/3($one$-$third$)$ interest in Prep Boys which has a fair value of $$12$ million. In other words, Jock is NOT in control after the transfer. What is Jock$$s realized at recognized gain after the transfer. Multiple Choice $$0$ realized gain; $$0$ recognized gain $$10\mathrm{.}8$ million realized gain; $$0$ recognized gain $$10\mathrm{.}8$ million realized gain; $$10\mathrm{.}8$ million recognized gain None of the above