In 2022, Oscar and Andy pooled their resources to form Feline\&Canine Partnership. They will both work actively in the business and they have agreed to share profits and losses 50-50. To form this partnership, Oscar contributed manufacturing equipment with a FMV of $1,000,000 and a basis of $100,000. Andy contributed $400,000 of cash and land with a fair market value of $800,000 and a basis of $500,000. The equipment contributed by Oscar was not encumbered by debt. The land contributed by Andy had a $200,000 mortgage (qualified nonrecourse debt) which was assumed by FELINE\&CANINE Partnership. a. Determine the basis that Oscar and Andy each have in their partnership interest in FELINE\&CANINE after forming FELINE\&CANINE partnership. (In other words, what are their outside bases?)