In the current year, the City of Concord donates and worth $400,000 to Club Corporation to induce it to locate in Concord and create an estimated $2,000 jobs for its citizens. Beed the requirements Requirement a. How much income, if any, must Club report on the land contribution? (Complete all input fields. Enter a 0 for any zero amolants.) Income Club Corporation must report on the land contribution Requirement b. What basis does Club take in the land? (Complete all input fields. Enter a 0 for any zero amounts.) Basis Club Corporation takes in the land Requirement c. Assume the same facts except the City of Concord also donated to Club $130,000 cash, which the corporation used to pay a portion of the $300,000 cost of equipment that it purchased six months later. How much income, if any, must Club report on the cash contribution? What basis does Club take in the equipment? (Complete all input fields. Enter a 0 for any zero amounts) Income Club Corporation reports when it receives the land and cash The basis of the equipment purchased with the cash contribution Requirement d. How would your answers to Parts a-c change if the contributionis made by a nonshareholder who is not a customer, potential customer, governmental entity, or civic group? (Complete al input fields. Enter a O for any zero amounts) How much income, if any, must Club report on the land contribution, if the contribution is made by a nonshareholder who is not a customer, potential customer, govemmental entity, or civic group? Income Club Corporation must report on the land contribution What basis does Club take in the land, if the contribution is made by a nonshareholder who is not a customer, potential customer, govemmental entity, or civic group? Basis Club Corporation takes in the land Assume the same facts except the City of Concord also donated to Cub $130,000 cash, which the corporation used to pay a portion of the $300,000 cost of equipment that it purchased six months later How much income, if any, must Club report on the cash contribution. If the contribution is were made by a nonshareholder who is not a customer, potential customer, governmental entity, or civic group? What basis does Club take in the equipment, if the contribution is made by a nonshareholder who is not a customer, potential customer, govemmental entity, or civic group? Income Club Corporation reports when it receives the land and cash The basis of the equipment purchased with the cash contribution