Required information The following information applies to the questions displayed below) 1 of 4 Travis and Alix Weber are equal partners in the Tralix Partnership, which does not have a $754 election in place. Allx sells one-half of her interest (25 percent) to Michael Tomei for $31,000 cash. Just before the sale, Alix's basis in her entire partnership interest is $76,200, including her $31,000 share of the partnership liabilities. Tralix's assets on the sale date are as follows: Book FMV Inventory Land held for investment Totals Tax Basis $ 40,000 $4.see 31.000 94.000 se, see See $152,400 $185, 30e rences a. What is the amount and character of Alix's recognized gain or loss on the sale? $15,750 of ordinary income and $7,350 of capital loss $7,350 of capital loss, $7,350 of ordinary income $7,350 of ordinary income and $15,750 of capital loss $16,800 of capital loss, $7,875 of ordinary income Neither gain nor loss recognized b. What is Alix's basis in her remaining partnership interest? Basis ces c. What is Michael's basis in his partnership interest? Basis d. Does the sale on partnership's basis have any effect in the assets? Yes or No Yes No