Cynthia sells her 1/3 interest in the CAR Partnership to Brandon for $95.000 cash. On the date of sale, the partnership balance sheet and agreed-upon fair market values were as follows. Cash Receivables Land Total Adjusted Basis $40,000 -0- 50.000 $90,000 FMV $ 40,000 60,000 125.000 $225,000 Cynthia, capital Arnold, capital Ralph, capital Total $30,000 30.000 30.000 $90,000 $ 75,000 75.000 75.000 $225,000 If the partnership has a $ 754 election in effect, the total "step up" in basis of partnership assets allocated to Brandon is: Total $90,000 Cynthia, capital Arnold, capital Ralph, capital Total $30,000 30,000 30.000 $90,000 If the partnership has a $ 754 election in effe partnership assets allocated to Brandon is: $75,000 O $65,000 $45,000 $20,000 $0 Cynthia sells her 1/3 interest in the CAR Partnership to Brandon for $95.000 cash. On the date of sale, the partnership balance sheet and agreed-upon fair market values were as follows. Cash Receivables Land Total Adjusted Basis $40,000 -0- 50.000 $90,000 FMV $ 40,000 60,000 125.000 $225,000 Cynthia, capital Arnold, capital Ralph, capital Total $30,000 30.000 30.000 $90,000 $ 75,000 75.000 75.000 $225,000 If the partnership has a $ 754 election in effect, the total "step up" in basis of partnership assets allocated to Brandon is: Total $90,000 Cynthia, capital Arnold, capital Ralph, capital Total $30,000 30,000 30.000 $90,000 If the partnership has a $ 754 election in effe partnership assets allocated to Brandon is: $75,000 O $65,000 $45,000 $20,000 $0