1. Franco owns a 60% interest in the Dulera LLC. On December 31 of the current tax year, his basis in the LLC interest is $128,000. The fair market value of the interest is $140,000. In a proportinate nonliquidating distribution, the LLC distributes $30,000 cash and equipment with an adjusted basis of $5,000 and a fair market value of $8,000 to him on that date. How much is Franco's adjusted basis in the LLC interest after the distribution and what is the amount of his basis in the equipment received? 2. Wylie receives cash of $145,000 in liquidation of his partnership interest, in which he has a basis of $110,000. The partnership owns no hot assets. after following all of the classification requirements of 736, $100,000 of this amount is classified as a property payment and $45,000 is classified as a guaranteed payment. As a result of the liquidation proceeds, how much will Wylie recognize as a capital gain or loss and how much will be ordinary income?