When Magdalena's outside basis is $220,000, she receives a liquidating distribution of $55,000 cash and a proportionate share of inventory having a partnership basis of $77,000 and a fair market value of $88,000. 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 a recognized of $ on the liquidation