Andrea and Bob each contributed assets to the A&B Partnership. Andrea contributed land with a basis of $20,000 and a fair market value at the date of contribution of $50,000. Bob contributed $50,000 in cash. The Partnership subsequently sold the land contributed by Andrea for $70,000. Andrea and Bob have agreed to share profits and losses equally. What is the gain to the partners as a result of the sale of the land? Andrea Bob a. $50,000 $0 b. $25,000 $25,000 c. $40,000 $10,000 d. $10,000 $10,000