Chelsea owns a 25% capital and profits interest in the calendar-year CJDV Partnership.Her adjusted basis for her partnership interest on July 1 of the current year is $170,000.On that date,she receives a proportionate nonliquidating distribution of the following assets: partnership basis in asset cash 90,000 inventory 110,000 land (held for investment) 100,000 assets fair market value cash 90,000 inventory 140,000 land (held for investment) 160,000 a.) calculate chelsea's recognized gain or loss on distribution if any b.) calculate chelsea's basis in inventory received c.) calculate chelsea's basis in land received. the land is a capital asset. d.) calculate chelsea's basis for her partnership interest after distribution.