Katrina is a one-third partner in the KYR partnership (calendar year-end). Katrina decides she wants to exit the partnership and she receives the following assets in the liquidating distribution. Katrina's basis in her partnership interest is $280,000.

	Basis	FMV
Cash	60,000	60,000
Inventory	50,000	90,000
Machinery	50,000	45,000
Land	40,000	105,000
Totals	200,000	300,000

1. What is Katrina's realized gain or loss on the liquidation of her partnership interest?