Can someone please show me how to solve this? Thanks.

Problem 10-50 (LO. 9, 10) This year, Callie and Neil formed CN LLC. Callie contributed $300,000 of cash, and Neil contributed real estate valued at $450,000 (basis of $200,000). The property was subject to a recourse liability of $150,000 that was assumed by the LLC but is not guaranteed by either LLC member. Callie and Neil's profit sharing ratios are 40%/60%, respectively, but the loss sharing ratios are 50%/50%. a. Is the debt treated as a recourse debt or a nonrecourse debt to the LLC members? Nonrecourse debt b. How is the debt allocated between Callie and Neil? Callie $ 75,000 X Neil $ 75,000 x c. What are Neil's and Callie's bases in the LLC interest immediately after the LLC was formed? Callie $ 375,000 X Neil $ 25,000 X