The following information applies to the questions displayed below. The Taurin Partnership (calendar year-end) has the following assets as of December 31 of the current year: Tax Basis FMV S 48,840 48,840 16,280 32,560 85,800 126,720 $150,920 $208,120 Cash Accounts receivable Inventory Totals On December 31, Taurin distributes $16,280 of cash, $10,853 (FMV) of accounts receivable, and $42,240 (FMV) of inventory to Emma (a one-third partner) in termination of her partnership interest. Emma's basis in her partnership interest immediately prior to the distribution is $42,827 c1. If Emma's basis before the distribution was $59,027 rather than $42,827, what is Emma's recognized gain or loss? c2. what is her basis in the distributed assets? Complete this question by entering your answers in the tabs below Req C1 Req C2 What is her basis in the distributed assets? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) 16,280 Cash Accounts receivable Inventory KReq C1 Req C2 The following information applies to the questions displayed below. The Taurin Partnership (calendar year-end) has the following assets as of December 31 of the current year: Tax Basis FMV S 48,840 48,840 16,280 32,560 85,800 126,720 $150,920 $208,120 Cash Accounts receivable Inventory Totals On December 31, Taurin distributes $16,280 of cash, $10,853 (FMV) of accounts receivable, and $42,240 (FMV) of inventory to Emma (a one-third partner) in termination of her partnership interest. Emma's basis in her partnership interest immediately prior to the distribution is $42,827 c1. If Emma's basis before the distribution was $59,027 rather than $42,827, what is Emma's recognized gain or loss? c2. what is her basis in the distributed assets? Complete this question by entering your answers in the tabs below Req C1 Req C2 What is her basis in the distributed assets? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) 16,280 Cash Accounts receivable Inventory KReq C1 Req C2