Annette, Chris, and Jennifer form a partnership. Annette contributed her personal vehicle in return for her 10% interest in capital and profits. Her vehicle was purchased in 2018 for $15,000, but was only worth $10,000 when she transferred it to the partnership. Chris transferred a piece of land used in his business. He had purchased the land in 2016 for $35,000. The land was worth $90,000 when he transferred it to the partnership in return for his 40% interest. The land was also subject to a nonrecourse liability that the partnership assumed. Jennifer transferred cash for the remaining 50% interest.

(a) What are the basis and holding period for each partner in their partnership interest?