ABC Partnership distributed land with basis of $12,100 and FMV of $20,000 to Partner A in liquidation of his partnership interest. Partner A's basis in his partnership interest before the distribution was $13,700 and includes $5,000, his share of partnership liabilities. How much gain or loss does he recognize in liquidation?

a)$0 b)

$3,400 gain

c)$3,400 loss

d) $6,300 gain