Michelle pays $156,000 cash for Brittany's one-third interest in the Westlake Partnership. Just prior to the sale, Brittany's basis in Westlake is $100,200. Westlake reports the following balance sheet: Tax Basis FMV Assets: Cash Land Totals $100,200 $100,200 200,400 367,800 $300,600 $468,000 Liabilities and capital: Capital - Amy - Brittany - Ben 100,200 100,200 100,200 $300,600 Totals (Do not round intermediate calculations. Leave no answer blank. Enter zero if applicable.) Problem 21-55 Part e e1. Suppose Westlake has a $754 election in place. What is Michelle's special basis adjustment? e2. Suppose Westlake has a 754 election in place. How much gain or loss would Michelle recognize on a subsequent sale of the land in this situation? Complete this question by entering your answers in the tabs below Req E1 Req E2 Suppose Westlake has a 5754 election in place. What is Michelle's special basis adjustment? Special basis adjustment