Tina transfers two assets to a partnership on the day its created for a 60% partnership interest worth $60,000. She contributed cash = $40,000 and equipment worth $20,000 with an adjusted basis = $8,000. What result?

a.	Tina realizes and recognizes a $12,000 gain	c.	Tina realizes but does not recognize a $12,000 gain
b.	Tina neither realizes nor recognizes any gain	d.	Tina does not realize but may elect to recognize a $12,000 gain