During the year, Bryam trasnsferred land with an adjusted basis of $25,000 and a fair market value of $47,000 to Corporation F.

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. TYhe 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