Tom and Jenny formed TJ Inc., a corporation, in 2011. Tom received 70 shares of the voting common stock, the only class of stock of the corporation, in exchange for property, and Jenny received 30 shares that were issued in exchange for her accounting services. In 2013, Tom transferred additional property to TJ Inc. The property had an adjusted basis to Tom of $60,000 and a fair market value of $70,000 on the date of the transfer. On the same day, and in exchange for the property he transferred to TJ Inc., Tom received cash of $15,000 and an additional 55 shares of stock worth $55,000. How much gain was recognized by Tom as a result of this transaction?