Lee, Brad, and Rick form the LBR Partnership on January 1 of the current year. In return for a 25% interest, Lee transfers property (basis of $15,000, fair market value of $27,500 ) subject to a nonrecourse liability of $20,000. The liability is assumed by the partnership. Brad transfers property (basis of $16,000, fair market value of $7,500 ) for a 25% interest, and Rick transfers cash of $15,000 for the remaining 50% interest. If an amount is zero, enter "0". a. Lee's basis in his partnership interest is $X. Feedback V Check My Work The partner's basis also is affected by (1) postacquisition contributions of cash or property to the partnership and (2) postacquisition distributions of cash or property from the partnership. b. Lee recognizes gain of $ on the transfer. C. Brad's basis in his partnership interest is Feedback T Check My Work Incorrect d. Rick's basis in his partnership interest is Feedback Check My Work Incorrect e. The LBR Partnership takes a basis of $ in the property transferred by Lee