When Magdalena's outside basis is $212,500, she recelves a liquidating distribution of $53,125 cash and a proportionate share of inventory having a partnership basis of $74,375 and a fair market value of $85,000. The distribution results in a liquidation of both the partnership and her interest. a. How much is Magdalena's basis in the inventory received? ! b. What is the amount of any gain or loss recognized on the liquidation? She has recognize of $ on the liquidation