Henrietta transfers cash of $253,600 and equipment with a fair market value of $76,080 (basis to her as a sole proprietor, $30,432) in exchange for a 40% profit and loss interest worth $329,680 in a partnership.

If an amount is zero, enter "0".

a. How much are Henrietta's realized and recognized gains? Realized gain: $45648 Recognized gain: $0

b. What is the amount of Henrietta's basis in her partnership interest? $_________________

c. What is the partnership's basis in the contributed equipment? $30432