QUESTION 37 In exchange for a thirty percent (30%) interest in capital and profits, Veronica contributes property subject to a $10,000 lability to a Partnership. Veronica's basis In the property immediately before the transfer was 56,000. Which of the following statements is correct? O Veronica is required to recognize a Gain of $1,000. Veronica's basis in her Partnership Interest immediately after the exchange is $6,000, The Partnership's Basis in the property received from Veronica is 5-0. In total, the other partners are entitled to increase the basis of their respective Partnership Interests by $10,000 as a result of the transferred liability of Veronica