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Lance contributed investment property worth $ 6 2 2 , 5 0 0 , purchased three years ago for $ 3 2 2 , 5

Lance contributed investment property worth $ $622, 500,$ purchased three years ago for $ $322, 500$ cash, to Cloud Peak LLC in exchange for an $70$ percent profits and capital interest in the LLC $.$ Cloud Peak owes $ $382, 500$ to its suppliers but has no other liabilities.

b $.$ What is Lance's holding period in his interest?

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