Walter receives cash of $39,100 and land with a fair market value of $156,400 (adjusted basis of $93,840) in a current distribution. His basis in his partnership interest is $33,235 before the distribution.

If an amount is zero, enter "0".

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a. What amount of gain must Walter recognize as a result of the current distribution? fill in the blank 1 of 2$

What is Walter's basis in the land received? fill in the blank 2 of 2$

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b. What amount of gain must the partnership recognize as a result of the distribution? fill in the blank 1 of 1$

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c. What is Walter's basis in his partnership interest immediately after the distribution? fill in the blank 1 of 1$