Dawn, Ethan and Gary form an equal general partnership, DEG. Ethan contributes Property #2 with a fair market value of $135,000 and an adjusted basis in his hands of $40,000. Dawn and Gary each contribute $135,000 of cash to the DEG partnership. Each partners' capital account was credited for $135,000. As permitted by law, for purposes of section 704(c), the partnership elected the traditional methodfor Property #2.

If the DEG partnership sells Property #2 for $111,000. What would be the book gain (loss) and tax gain (loss) allocated to Dawn, Ethan and Gary as a result of the sale of Property #2?