Opal receives a proportionate liquidating distribution when the basis of Opal's partnership interest is $20,000. The distribution consists of $25,000 cash and noninventory property (adjusted basis to the partnership of $10,000; fair market value of $12,000). The partnership has no hot assets. How much gain or loss does Opal recognize, and what is the basis in the distributed property? a. $0 gain or loss; $12,000 basis in property b. $5,000 ordinary income; $0 basis in property c. $5,000 capital gain; $0 basis in property d. $5,000 capital gain; $10,000 basis in property e. $0 gain or loss; $10,000 basis in property