Randolph is a 30 percent partner in the RD Partnership. On January 1, RD distributes $23,500 cash and inventory with a fair value of $44,800 (inside basis of $22,400) to Randolph in complete liquidation of his interest. RD has no liabilities at the date of the distribution. Randolph's basis in his RD Partnership interest is $49,175. What is the amount and character of Randolph's gain or loss on the distribution? Multiple Choice $0 gain or loss. $19,125 capital gain. $19,125 capital loss. o o $3,275 capital loss