Rufus is a one-quarter partner in the Adventure Partnership. On January 1 of the current year, Adventure distributes $22,100 cash to Rufus in complete liquidation of his interest. Adventure has only capital assets and no liabilities at the date of the distribution. Rufuss basis in his partnership interest is $29,950. a. What is the amount and character of Rufuss recognized gain or loss? b. What is the amount and character of Adventures recognized gain or loss? . c. If Rufuss basis is $16,750 at the distribution date rather than $29,950, what is the amount and character of Rufuss recognized gain or loss?