According to the scenario in Question 5, which of the following is the correct amount of gain on the property for 2022 and correctly states the party(ies) who will recognize the gain?

a) $25,000 total gain recognized, all by partnership

b) No gain should be recognized because the property has not been sold.

c) $30,000 total gain recognized, all by partnership

d) $30,000 total gain recognized, $5,000 by Nancy and $25,000 by the partnership