Jalapeo Corporation and Habanero Corporation formed a partnership to construct a restaurant. Jalapeo contributed 5534,000 cash. and Habanero contributed land ($534,000 FMV and 5464.000 basis) in exchange for a 50 percent interest in Pepper Partnership Immediately after its formation Pepper Partnership borrowed $267.000 from a local bank. The debt is recourse (unsecured by any specific partnership asset). Required: a. Compute each partner's initial basis in its partnership interest, assuming that both Jalapeo and Habanero are general partners b. Compute each partner's initial basis in its partnership Interest, assuming that Jalapefio is a general partner, and Habanero is a limited partner Complete this question by entering your answers in the tabs below. Required A Required Compute each partner's initial basis in its partnership Interest, assuming that both Jalaperlo and Habanero are general partners Amount Jalapeos Initial basis Habanero's initial basis Arquie Required B) Jalapeno Corporation and Habanero Corporation formed a partnership to construct a restaurant. Jalapeo contributed $534,000 cash. and Habanero contributed land (5534,000 FMV and $464,000 basis) in exchange for a 50 percent interest in Pepper Partnership Immediately after its formation, Pepper Partnership borrowed $267.000 from a local bank. The debt is recourse (unsecured by any specific partnership asset). Required: a. Compute each partner's initial basis in its partnership interest, assuming that both Jalapero and Habanero are general partners b. Compute each partner's initial basis in its partnership interest assuming that Jalapeno is a general partner, and Habanero is a limited partner Complete this question by entering your answers in the tabs below. Required A Required B Compute each partner's initial basis in its partnership Interest, assuming that alapero is a general partner and Habanero is a limited partner Amount Jalapeo's initial basis Habanero's initial basis