Blake and Ryan from the Poole partnership. Blake contributes cash of $15,000. Ryan contributes land with an adjusted basis of $10,000 and a fair market value of $21,000. The land is subject to a $6,000 mortgage that Poole assumes. Blake and Ryan both receive a 50 % interest in Poole. What is Ryan's recognized gain or loss on the contribution?

A $4,000

B $5,000

C $11,000

D $16,000

E None of the above