17. On September 1, 2015, Leonard contributed land held for investment with a fair market value of $200,000 and an adjusted basis to him of $120,000 for a 20 percent interest in the income and capital of Office Complex Partnership. The land was intended for use as a building site for the partnership.The partnership opted to rent facilities and on September 2,2020, sold the contributed land for $500,000. Assuming the partnership agreement was silent with respect to this particular asset, how much gain must Leonard report for this partnership sale?