Check my work 12 Required information When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: Part 4 or 5 Fair Market Basis Value 0.86 points Maude: Cash Land* 31,000 31,000 114,800 430,75e $145,890 $461,75e Skipped Totals Nonrecourse debt secured by the land equals $186,000 eBook Print Reterences James, Harold, and Jenny each contributed $275,750 in cash for a 25 percent profits and capital Interest. (Leave no answer blank. Enter zero if applicable.) d. What is High Horizon's tax basis in its assets? ax basis