Required information The following information applies to the questions displayed below. Michelle pays $188,000 cash for Brittany's one-third interest in the Westlake Partnership. Just prior to the sale, Brittany's basis in Westlake is $100,000. Westlake reports the following balance sheet: Tax Basis FMV Assets: Cash Land Totals Liabilities and capital: Capital $100,000 $100,000 200,000 464,000 $300,000 $564,000 100,000 100,000 100,000 $300,000 - Amy - Brittany - Ben Totals e1. Suppose Westlake has a 9754 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?