lenny has a $69,300 basis in her 50 percent partnership interest in the JM Partnership before receiving any distributions. This year JM makes a proportionate operating distribution to Jenny of a parcel of land with an $107,500 fair value and a $86,800 basis to JM. The land is encumbered with a $41,400 mortgage (JM's only liability). What is Jenny's basis in the land and her remaining basis in JM after the distribution? Multiple Choice $107,500 land basis, $3,200JM basis S107,500 land basle, $0 JM basls $86,800 land bas1s, $0JM basis $86,800 land basis, $3,200JM basis