B, C, and D Each Own 30 Shares of the 90

B, C, and D each own 30 shares of the 90 shares of stock outstanding of We-Cater-To-You Corporation.This year B contributed a van previously used in his proprietorship worth $10,000 (basis $12,000) in exchange for 10 shares of stock.R will

A) Recognize no gain or loss on the exchange and have a basis in the stock received of $10,000
B) Recognize a $2,000 loss on the exchange and have a basis in the stock received of $10,000
C) Recognize no gain or loss on the exchange and have a basis in the stock received of $12,000
D) Recognize a $2,000 loss on the exchange and have a basis in the stock received of $12,000