Cornelius is a 25% owner in the NICE LLC (a calendar year entity). At the end of the last tax year, Cornelius's basis in the interest was $40,000, including a $10,000 share of LLC liabilities. On July 1 of the current tax year, Cornelius sells the LLC interest to Inga for $50,000 cash. In addition, Inga assumes Cornelius's share of LLC liabilities, which, at that date, was $15,000. During the current tax year, NICE's taxable income is $100,000 (earned evenly during the year). Cornelius's share of the LLC's unrealized receivables is valued at $5,000 ($0 basis). At the sale date, what is Cornelius's basis in the LLC interest, how much gain or loss must Cornelius recognize, and what is the character of the gain or loss? a. $57,500 basis; $5,000 ordinary income and $2,500 capital gain b. $57,500 basis; $2,500 ordinary income and $5,000 capital loss c. $55,000 basis; $5,000 capital loss d. $65,000 basis; no gain or loss e. $65,000 basis; $15,000 capital gain