The December 31 Balance Sheet of the Calendar-Year BCD LLP

The December 31 balance sheet of the calendar-year BCD LLP reads as follows. $$\begin{array} { l r r } & \text { Adjusted } \\& \text { Basis } & \text { FMV } \\\text { Cash } & \$ 210,000 & \$ 210,000 \\\text { Receivables } & -0- & 120,000 \\\text { Capital assets } & 42,000 & 69,000 \\\text { Total } & \$ 252,000 & \$ 399,000\\\\\text { Ben, capital } & \$ 84,000 & \$ 133,000 \\\text { Christina, capital } & 84,000 & 133,000 \\\text { Danielle, capital } & 84,000 & 133,000 \\\text { Total } & \$ 252,000 & \$ 399,000\end{array}$$ Each partner shares in 1/3 of the partnership capital, income, gain, loss, deduction, and credit. Capital is not a material income-producing factor to the partnership. On December 31, Christina treated as a general partner) receives a distribution of $140,000 cash in liquidation of her partnership interest under § 736. Nothing is stated in the partnership agreement about goodwill. Christina's outside basis for the partnership interest immediately before the distribution is $84,000.
How much is Christina's recognized gain from the distribution and what is the character of the gain? How much, if anything, can the partnership deduct? If a § 754 election is in effect, what if any) adjustment is made? Show your calculations.