ST Partnership has the following assets:Inventory Value $28,000 Basis $12,000Land Value $70,000 Basis $48,000Equipment Value $42,000 Basis $32,000Inventory is a Section 751 asset and there is $10,000

ST Partnership has the following assets:

Inventory Value $28,000 Basis $12,000

Land Value $70,000 Basis $48,000

Equipment Value $42,000 Basis $32,000

Inventory is a Section 751 asset and there is $10,000 of Section 1245 recapture of depreciation on the equipment. S, a 50% partner, and T, her copartner, received a partial distribution from the partnership of the land. Each received land worth $35,000 with a basis of $24,000. What is S's recognized gain, ignoring partnership income?

$0

$5,000 capital gain

$5,000 ordinary gain

$20,000 ordinary gain