Emma Contributes Property Having a $24,000 FMV and a $15,000

Emma contributes property having a $24,000 FMV and a $15,000 adjusted basis and also renders legal services valued at $22,000 in exchange for a 30% interest in the capital and profits of the ABC partnership. The tax results to Emma will be

A) no income is recognized and a partnership basis of $37,000.
B) ordinary income of $22,000 and a partnership basis of $37,000.
C) no income is recognized and a partnership basis of $46,000.
D) ordinary income of $22,000 and a partnership basis of $46,000.