Connie owns a one-third capital and profits interest in the calendar-year CDB Partnership. Her adjusted basis for her partnership interest was $120,000 when she received a proportionate nonliquidating distribution of the following assets:

	Partnership's Basis in Asset	Asset's Fair Market Value
Cash	$100,000	$100,000
Land held for investment	$30,000	$60,000

a. Calculate Connie's recognized gain or loss on the distribution, if any.

b. Calculate Connie's basis in the land received.

c. Calculate Connie's basis for her partnership interest after the distribution.