During the Year, the City of Houston Contributed Land Worth

During the year, the city of Houston contributed land worth $100,000 to XYZ, Inc.in order to lure the company to establish a factory in the city.XYZ will report

A) $100,000 income and will have a basis in the property of $100,000
B) No income and will have a basis in the property of $100,000
C) No income and will have a zero basis in the property
D) $100,000 income and will have a zero basis in the property