Frank and Bob are equal members in UMPI, LLC$.$ When forming the LLC$,$ Frank contributed $$50,000$ in cash and $$50,000$ worth of equipment. Frank's adjusted basis in the equipment was $$35,000.$ Bob contributed $$50,000$ in cash and $$50,000$ worth of land. Bob's adjusted basis in the land was $$30,000.$ On $3/15/18,$ UMPI sells the land Bob contributed for $$60,000.$ How much gain $($loss$)$ related to this transaction will Bob report on his $2018$ return?

$45,000$

$60,000$

$40,000$