Justin contributes a factory building, a car, and machinery with a cumulative basis of $395,000 and a FMV of $675,000 to Dell Partnership. He receives a 42% interest in the partnership. The partnership is a domestically operated partnership that has applied for the allowance of the USPAD and DRD. The partnership has invested in Alpha corporation with a basis of $5,000,000 in the stock. The partnership received dividends of $1,750,000 in the prior year and had domestic income of $3,200,000. The partnership already held recourse debt of $350,000. what is Justin's basis in the partnership and how much gain does justin have to recognize