Required Information [The following Information applies to the questions displayed below.] The Taurin Partnership (a calendar-year-end entity) has the following assets as of December 31 of the current year: Cash Accounts receivable Inventory Tax Basis $ 45,000 15,000 81,000 FMV $ 45,000 30,000 120,000 Totals $ 141,000 $ 195,000 On December 31, Taurin distributes $15,000 of cash, $10,000 (FMV) of accounts receivable, and $40,000 (FMV) of Inventory to Emma (a one-third partner) in termination of her partnership Interest. Emma's basis in her partnership Interest Immediately prior to the distribution is $40,000. c1. If Emma's basis before the distribution was $55,000 rather than $40,000, what is Emma's recognized gain or loss? c2 What is her basis in the distributed assets? Complete this question by entering your answers in the tabs below. Req C1 Req C2 What is her basis in the distributed assets? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Cash Accounts receivable Inventory Basis $ 15,000 < ReqC1 Req C2 >