At the formation of Berry Partnership, Straw contributes land with a basis of $110,000 and a fair market value of $330,000, and Rasp contributes cash of $330,000. Straw and Rasp share profits and losses equally. When the land is sold two years later for $550,000, Straw must recognize a gain of how much? $440,000 $110,000 $220,000 $330,000