Calculator Exercise 14-2 (Algorithmic) (LO. 2) Henrietta transfers cash of $306,800 and equipment with a fair market value of $92,040 (basis to her as a sole proprietor, $36,816) in exchange for a 40% profit and loss interest worth $398,840 in the XYZ Partnership. If an amount is zero, enter "O". a. Henrietta has a realized gain of $ 55,224 and recognizes a gain of o from the asset transfers b. Henrietta's basis in XYZ is $ C. XYZ's basis in the equipment that now holds is s 36,816 Previous Next more Check My Work uses remaining