Frank and Bob are equal members in an LLC. Upon forming the LLC, Frank contributes $50,000 in cash and $50,000 worth of equipment. Frank's adjusted basis in the equipment was $35,000. Bob contributes $50,000 in cash and $50,000 worth of land. Bob's adjusted basis in the land was $30,000. The LLC sells the land Bob contributed for $60,000. How much gain (loss) will Bob report on his return?

a. $10,000

b. $15,000

c. $25,000

d. $35,000