Walter receives cash of $27,400 and land with a fair market value of $109,600 (adjusted basis of $65,760) in a current distribution. His basis in his partnership is $23,290 If an amount is zero, enter"0". a. What amount of gain must Walter recognize as a result of the current distribution? What is Walter's basis in the land received? b. What amount of gain must the partnership recognize as a result of the distribution? c. What is Walter's basis in his partnership interest immediately after the distribution