At year$-$end, Blake sells his $\backslash (1/3\backslash )$ interest in the ABC Partnership to Gwen for $\backslash (\backslash$$ $320,000\backslash )$ cash. At the beginning of the year, the partnership had liabilities totaling $\backslash (\backslash$$ $21,000\backslash )$ and Blake's basis in his partnership interest was $\backslash (\backslash$$ $100,000\backslash ),$ which included his share of partnership liabilities. The partnership allocates $\backslash (\backslash$$ $75,000\backslash )$ of income to Blake for the current year. On the date of the sale $($year$-$end$),$ the basis and the agreed fair market values of the partnership's assets and liabilities are as follows: Required: a$.$ Showing your computations using good form, determine Blake's total consideration received from the sale. b$.$ Showing your computations using good form, determine Blake's recognized gain or loss from the sale and also the character of the gain or loss. c$.$ Assume that Blake's basis in his partnership interest at the beginning of the year was $\backslash (\backslash$$ $200,000\backslash )$ instead of $\backslash (\backslash$$ $100,000\backslash ).$ Given this new fact, showing your computations using good form, determine Blake's recognized gain or loss from the sale and also the character of the gain or loss.