Francine has basis in her general partnership interest of $60.000 in a liquidating distribution she receives and with a fair market value of $75.000 and a tax basis of $30,000 In addition after the distribution she is no longer a partner and is no longer liable for partnership debt. Her shore of partnership debt immediately before the liquidating distribution was $20,000. As a result of this liquidating distribution what gain must recognize and what is her basis in the land? O A. Gain recognized $35,000 basis in land $75,000 OB. No gain recognized basis in land $30,000 C. No gain recognized, basis in land $60,000 OD. No gain recognized basis in land $40,000