:17-4 Paula transfers two assets to a partnership in sep- arate transactions: a. Land with a $60,000 adjusted basis and a $100,000 FMV in exchange for a 20% interest in the partnership. b. A machine with a $50,000 adjusted basis and a $40,000 FMV. The partnership signs a note for $40,000 as consideration for the exchange. Explain whether Paula recognizes gain or loss for either or both of these transactions, and discuss the reason for any difference in tax treatment