FACTS: The ABC partnership has three equal partners. Each partner invested $100,000 and the tax basis of their interests is S300,000. The partnership owns assets with a tax basis of S300,000 but a fair market value of $900,000. Partner Andy has negotiated the sale of his interest to a third party, Darla. Darla will pay Andy $300,000 for the one-third interest. REQUIRED: 1. Andy's gain or loss from sale of the interest 2. Darla's tax basis in the interest 3. What will happen if the partnership makes a Section 754 election