Catherine has a $100,000 basis in her partnership interest. On April 28 of the current tax year, the partnership distributes to her cash of $32,000, cash basis receivables with an inside basis of $0 and a fair market value of $12,000, and a parcel of land with a fair market value of $75,000 and a basis to the partnership of $65,000. After accounting for this distribution, what is Catherine’s basis in the land?

a. $65,000
b. $53,000
c. $63,000
d. $56,000