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The Taurin Partnership (a calendar-year-end entity) has the following assets as of December 31 of the current year: On December 31, Taurin distributes $16,280 of cash, $10,853 (FMV) of accounts recelvable, and $42,240 (FMV) of inventory to Emma (a orie-third partnet) in termination of her partinership interest. Emma's basis in her partnership interest immediately prior to the distribution is 542.827. 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? What is her basis in the distributed assets? (Do not round intermediate calculations. Rounif fur final answers to the whole dollar amount.)