(a) Bonnie contributes land, which she held as inventory (FMV 473,000 and AB 516,000), in exchange for an interest in the JB Partnership. The partnership holds the land as inventory and sells it three years after formation for 220,000. What is the partnership's realized gain/loss? (b) What is the character of the gain/loss? (c) What if, instead, the partnership holds the land as an investment? What is the character of the gain/loss? (d) Back to the original facts. What if, instead, Bonnie held the land as an investment? What is the character of the gain/loss