Rachael and Ray form an equal partnership R&R on January $1,20$X$1.$ Rachael contributes $$100,000$ in exchange for her one$-$half interest; Ray contributes land worth $$100,000.$ Ray's adjusted basis in the land is $$30,000.$ Ray is a real estate developer, and at the time of the contribution, the land was inventory in his hands. The land is a capital asset in the hands of R&R$.$ If R&R sells the land in $20$X$7$ for $$180,000,$  a$.$R&R will recognize $$150,000$ of capital gain. b$.$R&R will recognize $$150,000$ of ordinary income. c$.$R&R will recognize $$80,000$ of ordinary income and $$70,000$ of capital gain. d$.$R&R will recognize $$80,000$ of ordinary income. e$.$R&R will recognize $$80,000$ of capital gain.