The ABC general partnership has the following assets:

The Land is a capital asset in the hands of the ABC partnership. Carl's book capital

account balance is equal to $$23,520$ and his outside basis in his partnership interest

is also equal to $$23,520.$ Nancy acquires Carl's interest in the partnership by giving

him a check in the amount of $$32,760.$

a$.$ 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.

b$.$ The character of Carl's gain $($loss$)$ is $ of ordinary income $($loss$)$ and

$ of capital gain $($loss$).$ Explain your answer.

c$.$ Nancy's outside basis in her partnership interest is equal to $

Explain your answer.

d$.$ Nancy's book capital account balance is equal to $

Explain your

answer.