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7. In the current year, the CAR Partnership received revenues of $400.000 and paid the following amounts: $160,000 in rent, utilities, and salaries; a $40,000 guaranteed payment to partner Ryan:; $20,000 to partner Amy for consulting services; and a $40,000 distribution to 25% partner Cameron. In addition, the partnership realized a $ 12,000 net long-term capital gain. Cameron's basis in his partnership interest was S60,000 at the beginning of the year, partnership liabilities was $15,000. a. How much income must Cameron report for the tax year? b. What is Cameron's basis in the partnership interest at the end of the year