2 of 4 oed bok int ences Required information Problem 20-42 (LO 20-2) (Algo) [The following information applies to the questions displayed below] When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC Maude Cash Land Totals Basis $ 22,000 137,500 $159, 500 Fair Market Value $ 22,000 370,000 $ 392,000 "Nonrecourse liability secured by the land equals $182,000 James, Harold, and Jenny each contributed $210,000 in cash for a 25 percent profits and capital interest. (Leave no answer blank. Enter zero if applicable.) Problem 20-42 Part b (Algo) b. What is Maude's tax basis in her LLC interest? Tax basis