The ABC cash method general partnership, which has made a Section 754 election, had the following balance sheet at the time D purchased C's interest for $60,000. None of the partnership's assets were contributed by a partner: Accounts receivable # Inventory Land (Sec. 1231) Building (See. 1231) Total assets FMV 30,000 60,000 15,000 105,000 AB 30,000 30,000 30,000 $ 210,000 $90.000 $ Lisbilities Capital Partner A Partner B Partner C FMV $ 30,000 60,000 30,000 00,000 60,000 30.000 30,000 Total liabs + capital 210.000 100.000 (a) What is D's personal inside basis in each of the assets? (b) What is D's personal inside basis in the assets if he paid $70,000 for Cs interest? See Temp. Reg. 1.785-27 Same as (a), above, except that C centributed the accounts receivable at a time when the fair market value of receivables was $30,000 and their basis was zero?