13. Chelsea owns a 25% capital and profits interest in the calendar-year CJDV Partnership. Her adjusted basis for her partnership interest on July 1 of the current year is $170,000. On that date, she receives a proportionate nonliquidating distribution of the following assets: Partnerships Basis in Asset Assets Fair Market Value Cash $175,000 $175,000 Inventory 110,000 140,000 Land (held for investment) 100,000 160,000 a. Calculate Chelseas recognized gain or loss on the distribution, if any. b. Calculate Chelseas basis in the inventory received. c. Calculate Chelseas basis in land received. The land is a capital asset. d. Calculate Chelseas basis for her partnership interest after the distribution.