Melissa, Nicole, and Miguel are equal partners in the Opto Partnership $($a calendar$-$year$-$end entity$).$ Melissa decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January $1.$ The partnership has no liabilities and holds the following assets as of January $1$:

Tax Basis FMV

Cash $ $18,360$ $ $18,360$

Accounts receivable $024,480$

Stock investment $7,74012,600$

Land $31,20038,400$

Totals $ $57,300$ $ $93,840$

Melissa receives one$-$third of each of the partnership assets. She has a basis in her partnership interest of $$25,780.$

Note: Leave no answer blank. Enter zero if applicable.

Required:

c$1.$ What are the amount and character of Melissa's recognized gain or loss if her outside basis is $$11,360$ rather than $$25,780?$

c$2.$ What is Melissa's basis in the distributed assets if her basis in Opto Partnership is $$11,360$ rather than $$25,780?$