Jokan contributes a nondepreciable asset to the Mahall LLC in exchange for a one-fourth (25\%) interest in the LLC's capital and profits and a 30% interest in the LLC's losses. The asset has an adjusted tax basis to Jokan and the LLC of $117,500 and a fair market value and $704(b) "book" basis on the contribution date of $211,500. The asset is encumbered by a nonrecourse note of $70,500 that has not been guaranteed by any of the LLC members. How much of the nonrecourse debt is allocated to Jokan? What is the amount of Jokan's basis in the LLC interest following the contribution