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Gladys Peel owns a 50% interest in the capital and profits of the partnership of Peel and Poe. On July 1, 2012, Peel bought land the partnership had used in its business for its fair market value of $10,000. The partnership had acquired the land five years ago for $16,000. For the year ended December 31, 2012, the partnership’s net income was $94,000 after recording the $6,000 loss on the sale of land. Peel’s distributive share of ordinary income from the partnership for 2012 was