Tony Sells His One-Fourth Interest in the WindyCity Partnership to Bill

Tony sells his one-fourth interest in the WindyCity Partnership to Bill for $100,000 cash when the partnership's assets are as follows:
$$\begin{array} { | l | c | c | } \hline{ \text { Assets } } & \text { Basis } & \text { Fair Market Value } \\\hline \text { Cash } & \$ 80,000 & \$ 80,000 \\\text { Unrealized receivables } & 0 & 72,000 \\\text { Inventory } & 80,000 & 184,000 \\\text { Land } &80,000&64,000 \\\text { Total } & \underline { \$ 240,000 } & \$ 400,000 \\\hline\end{array}$$ The partnership has no liabilities on the sale date. Tony's basis in his partnership interest on the date of the sale is $60,000. What is the amount of gain realized by Tony on the sale of his partnership interest?