Piper and Adam formed a partnership. Piper received a 50% interest in partnership capital and profits in exchange for contributing land with a basis of $160,000 and a fair market value of $300,000. Adam received a 50% interest in partnership capital and profits in exchange for contributing $300,000 of cash. Three years after the contribution date, the land contributed by Piper is sold by the partnership to a third party for $360,000. How much taxable gain will Piper recognize from the sale?

a. 170,000

b. $140,000

c. 200,000

d. $30,000

e. none of the above