Dave LaCroix recently received a 10 percent capital and profits interest in Cirque Capital LLC in exchange for consulting services he provided. If Cirque Capital had paid an outsider to provide the advice, it would have deducted the payment as compensation expense. Cirque Capital's balance sheet on the day Dave received his capital interest appears below: Assets: Cash Basis $ 150,000 200,000 150,000 Investments Land Totals $ 500,000 Liabilities and capital: $ 100,000 200,000 200,000 Fair Market Value $ 150,000 700,000 250,000 $ 1,100,000 $ 100,000 500,000 500,000 Nonrecourse liabilities. Tatsuki* Robert* Totals $ 500,000 $ 1,100,000 *Assume that Tatsuki's basis and Robert's basis in their LLC interests equal their tax basis capital accounts plus their respective shares of nonrecourse liabilities. Note: Leave no answer blank. Enter zero if applicable. d. Compute and characterize any gain or loss Dave may have to recognize as a result of his admission to Cirque Capital if he receives only a profits interest. Gain or loss recognized as