ABC Partnership is making a distribution to partner A of $40,000 cash plus simultaneously investment land with a basis to ABC of $50,000 & a fair market value of $160,000. A's outside basis in his partnership interest immediately prior to the distribution is $70,000. As a result of this distribution, A's interest in the partnership is reduced from a 50% interest in capital & profits to a 20% interest.

What is A's basis in the land he receives in his distribution?

A. $50,000

B. $0

C. $30,000

D. None of the above