Borat owns a 20% interest in a general partnership. In a current distribution (Borat remains a partner after the distribution) Borat receives cash of $50,000 and a piece of land with a for market value of $200,000 and a tax basis of $70.000. Borats tax bass in his partnership interest immediately before the distribution was $30,000. What gain or loss does Borat recognize and what is his basis in the land received in the distribution ? O A Gain recognized $90,000 basis in land $70,000 8. Gain recognized $20,000: basis inland $70,000 Oc Oain recognized 5220 000, basis in tand $200,000 OD. Gan recognized $20,000 batis in land $0