Landis received $$90,000$ cash and a capital asset $($basis of $$50,000,$ fair market value of $$60,000)$ in a proportionate liquidating distribution. His basis in his partnership interest was $$120,000$ prior to the distribution. How much gain or loss does Landis recognize, and what is his basis in the asset received? a$.$ $$30,000$ gain; $$60,000$ basis. b$.$ $$0$ gain or loss; $$30,000$ basis. c$.$ $$20,000$ gain; $$50,000$ basis. d$.$ $$0$ gain or loss; $$50,000$ basis