Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $$138,000,$ and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $$74,200$ and was appraised at $$208,000.$ The land was also encumbered with a $$74,200$ nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $$9,800$ principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information:

Sales revenue $ $512,000$

Cost of goods sold $432,400$

Operating expenses $92,400$

Long$-$term capital gains $2,820$

$1231$ gains $600$

Charitable contributions $300$

Municipal bond interest $300$

Salary paid as a guaranteed payment to Deanne $($not included in expenses$)3,000$

Required:

a$.$ Compute the adjusted basis of each partner's interest in the partnership immediately after the formation of the partnership.

b$.$List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individual income tax returns that include the results of the partnership's first year of operations.

d$.$ What are the partners' adjusted bases in their partnership interests at the end of the first year of operations?