The December 31, 2019 balance sheet of the LCM Limited Partnership appears below: Cash Receivables Property, Plant & Equipment Adjusted Basis $210,000 0 42,000 $252,000 Fair Market Value $210,000 108,000 81,000 $399,000 Larry, Capital Curly, Capital Moe, Capital $ 84,000 84,000 84,000 $252,000 $133,000 133,000 133,000 $399,000 Each partner shares equally in the partnership's capital, income, gains, losses, deductions, and credits. The partnership manufactures high-quality widgets and capital is a material income-producing factor. On December 31, 2019, Curly, the General Partner, receives a distribution of $140,000 cash in retirement of his partnership interest. Nothing is stated in the partnership agreement about goodwill. Curly's outside basis in his partnership interest immediately before the distribution is $84,000. Required: (1) What are the amount and nature of Curly's gain that result from the distribution? Explain your answer and provide supporting computations. (2) What are the tax consequences to the partnership of making the distribution? (3) What action should the partnership consider and what effect would that action have