Sarah owns a partnership interest in Sky Partnership. Immediately before she receives a proportionate nonliquidating distribution from Sky Partnership, the basis of her partnership interest is $40,000. The nonliquidating distribution consists of $25,000 in cash and land with a fair market value of $80,000. Sky Partnership's adjusted basis in the land immediately before the distribution is $50,000. a) What is the amount of gain or loss recognized by Sarah on the nonliquidating distribution? b) What is Sarah's remaining basis in her partnership interest? c) What basis does Sarah take in the distributed assets