John, Ariel and Kamryn organized Burkemper Corporation with authorized voting common stock of $100,000. John received 10% of the capital stock in payment for organizational services that he rendered for the benefit of the newly formed corporation. John did not contribute property to Burkemper. Ariel and Kamryn transferred property in exchange for stock as follows: Fair Percentage of Adjusted Market Burkemper Stock Basis Value Acquired Ariel $ 5,000 $20,000 20% Kamryn $60,000 $70,000 70%

What amount of gain did Kamryn recognize from this transaction?