9.7 The balance sheet of Partnership ABC (expanded to show asset values) is as follows: Assets Liabilities Tax Book FMV Ta x Book Cash $100,000 $100,000 $100,000 | [None] $ 0 $ Inventory 20,000 20,000 20,000 Equipment 40,000 40,000 30,000 Capital Land 20,000 20,000 150,000 Amelia 60,000 60,000 Brody 60,000 60,000 Corbett 60,000 60,000 Total Liabilities To t a l Assets $180,000 $180,000 $300,000 and Capital $180,000 $180,000 The partnership distributes $100,000 in cash to Brody ni liquidation of her interest. The partnership has made an election under section 754. Following this distribution, what are the bases of the partnership's assets? a) Inventory, $20,000; equipment, $20,000; land, $0 b) Inventory, $10,000; equipment, $20,000; land, $10,000 c) Inventory, $20,000; equipment, $40,000; land, $60,000 d) Inventory, $24,000; equipment, $46,000; land, $50,000