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In exchange for a 30% partnership interest in Stevenson Partners, a general partnership, Gary contributes land with a $100,000 basis and $350,000 FMV and transfers

In exchange for a 30% partnership interest in Stevenson Partners, a general partnership, Gary contributes land with a $100,000 basis and $350,000 FMV and transfers a mortgage on the land of $110,000. What is the Book Value of Gary's capital account

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