Cal Contributes Property Valued at $50,000 (Adjusted Basis = $30,000)

Cal contributes property valued at $50,000 (adjusted basis = $30,000) to a partnership in exchange for a partnership interest valued at $40,000 and $10,000 cash. What is Cal's recognized gain or loss on these transfers?

A) 0
B) $4,000
C) $10,000
D) $20,000