Juanita contributes property with a fair market value of $42,000 and an adjusted basis of $12,600 to a partnership in exchange for a 17 percent partnership interest.

If an amount is zero, enter "0".

a. Calculate the amount of gain recognized by Juanita as a result of the transfer of the property to the partnership. ____________________

b. Calculate Juanita's basis in his partnership interest immediately following the contribution to the partnership.

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