35. Assume that New Partner contributes property worth $10,000,000 and an adjusted basis to New Partner of $2,000,000 to a partnership in return for 10% interest in the partnership. The property was subject to an outstanding mortgage of $6,000,000. What is New Partner's basis in the partnership and how much income, if any must she recognize?

a. $0 basis and $3,,400,000 in income

b. $0 basis and $4,000,000 in income

c. $0 basis and $0 in income

d. $2,000,000 in basis and $5,400,000 in income

e. $4,000,000 in basis and $0 in income