On April 5,2019,Joan Contributes Business Equipment (She Had Purchased on October

On April 5,2019,Joan contributes business equipment (she had purchased on October 24,2017) having a $45,000 FMV and a $40,000 adjusted basis to the EJK Partnership in exchange for a 25% interest in the capital and profits.The basis of the property and the date the holding period begins for the partnership is

A) $$\begin{array} {| l | l | } \hline \text { Basis } & \text { Holding Period Begins } \\\hline \$ 40,000 & \text { October } 24,2017 \\\hline\end{array}$$
B) $$\begin{array} {| l | l |} \hline\text { Basis } & \text { Holding Period Begins } \\\hline \$ 40,000 & \text { April 5, 2019 }\\\hline\end{array}$$
C) $$\begin{array} { |l | l | } \hline \text { Basis } & \text { Holding Period Begins } \\\hline \$ 45,000 & \text { October } 24,2017 \\\hline\end{array}$$
D) $$\begin{array} {| l | l | } \hline \text { Basis } & \text { Holding Period Begins } \\\hline \$ 45,000 & \text { April 5, 2019 } \\\hline\end{array}$$