Eli, Peyton, and Archie are equal partners in EPA partnership. Eli contributed land with an adjusted basis of $$20,000$ and a fair market value $($FMV$)$ of $$50,000.$ Peyton contributed equipment with an adjusted basis of $$40,000$ and an FMV of $$50,000.$ Archie provided services worth $$50,000.$ What amount of income is recognized as a result of the transfers?

$$60,000$

$$90,000$

$$150,000$

$$50,000$