The ABC general partnership has the following assets: I/S Basis Book FMV Cash $ 2,700 $ 2,700 $ 2,700 Inventory 28,800 28,800 29,400 Land 39,360 39,360 66,480 $ 70,860 $ 70,860 $ 98,580 The Land is a capital asset in the hands of the ABC partnership. Carl's book capital account balance is equal to $23,620 and his outside basis in his partnership interest is also equal to $23,620. Nancy acquires Carl's interest in the partnership by giving him a check in the amount of $32,860. What is the amount of any gain or loss to be recognized by Carl as a result of the sale of his partnership interest to Nancy? Explain your answer. The character of Carl's gain (loss) is $ _________ of ordinary income (loss) and $__________ of capital gain (loss). Explain your answer. Nancy's outside basis in her partnership interest is equal to $ __________? Explain your answer. Nancy's book capital account balance is equal to $ _________. Explain your