Jim, Bob, and Stan formed the "Taxman Associates" partnership on February 1, 2019. Each partner contributed $30,000 in return for an equal share of the profits of the partnership. At the end of the 2021 fiscal year of the partnership on December 31, Bob retired. He received $240,000 for his partnership interest on January 3, 2022.The following income statement was prepared for Taxman Associates: TAXMAN ASSOCIATES INCOME STATEMENT For the Year Ended December 31, 2021 Gross revenue Less: Office salaries. Rent Office supplies Capital cost allowance. Donations... Capital gain on sale of land (capital property) Dividend income: Non-eligible dividends Capital dividends... Net income $878,210 $ 85,500 40,500 17,500 20,110 247,500 (411,110) $135,000 36,000 14,400 185,400 $652,500 The financial statements of the partnership revealed the following for the first two fiscal years ended Decembe 31: 2019 2020 Income (loss) before capital gains (below)... $121,500 $(67,500) Capital gains on partnership property (November). Nil 19,800 Charitable donations of partnership 1,350 Nil Partners' drawings: Jim.. Bob Stan 28,800 14,400 28,800 18,000 28,800 14,400 Additional Information: (1) Each partner drew $120,000 from the partnership in fiscal 2021. (2) The following data pertains to Bob: (a) he has no other income for 2021; and (b) he has a net capital loss of $150,000 (arising in 2006) that is available to be carried forward. REQUIRED: (A) Compute Bob's income for tax purposes for 2021 as a result of his participation in the partnership. (B) Compute Bob's taxable income for 2021. (C) Compute Bob's capital gain on the disposition of the partnership interest.