Tina and Betty formed a partnership. Tina received a 40 percentinterest in the p

Tina and Betty formed a partnership. Tina received a 40 percentinterest in the partnership in exchange for land with an adjustedbasis to her of $60000 and a fair market value of $80000. Bettyreceived a 60 percent interest in the partnership in exchange for$120000 of cash. Three years after the date of contribution theland contributed by Tina was sold by the partnership to anunrelated third party for $90000. How much gain was required to beallocated to Tina as a result of the sale by the partnership?