2018 edition( Taxation)Please show how you got the answer. Thank you

Required information [The following information applies to the questions displayed below] Lance contributed investment property worth $500,000, purchased three years ago for $200,000 cash, to Cloud Peak LLC in exchange for an 85 percent profits and capital interest in the LLC. Cloud Peak owes $300,000 to its suppliers but has no other debts. a. What is Lance's tax basis in his LLC interest? Tax basis $ 755,000 0 Required information The following information applies to the questions displayed below. Lance contributed investment property worth $500,000, purchased three years ago for $200,000 cash, to Cloud Peak LLC in exchange for an 85 percent profits and capital interest in the LLC. Cloud Peak owes $300,000 to its suppliers but has no other debts. c. What is Cloud Peak's basis in the contributed property? Basis 1 Required information [The following information applies to the questions displayed below.] Lance contributed investment property worth $500,000, purchased three years ago for $200,000 cash, to Cloud Peak LLC in exchange for an 85 percent profits and capital interest in the LLC. Cloud Peak owes $300,000 to its suppliers but has no other debts. d. What is Cloud Peak's holding period in the contributed property? Holding period