Laurel contributed equipment worth $285,000, purchased 6 months ago for $294.000 and used in her sole proprietorship, to Sand Creek LLC in exchange for a 30 percent profits and capital interest in the LLC. Laurel agreed to guarantee all $14,500 of Sand Creek's accounts payable (all 100% of this debt is allocated to Laurel), but she did not guarantee any portion of the $142,500 nonrecourse mortgage securing Sand Creek's office building (thus, this nonrecourse debt is allocated in accordance with her profit sharing ratio). Other than the accounts payable and mortgage, Sand Creek does not owe any debts to other creditors. a. What is Laurel's initial outside basis in her LLC Interest? Tax basis