Lent Corporation converts to S corporation status in $2023.$ Lent had been using the LIFO inventory method and held a LIFO inventory value of $$510,000($FIFO value of $$650,000).$ How much tax $,$ if any, is added for these items for the final C corporation year?

$$7,350.$

$$140,000.$

$$29,400.$

$$-0-.$

Samuel is the managing general partner of STU in which he owns a $25\%$ interest. For the year, STU reported ordinary income of $$400,000($after deducting all guaranteed payments$).$ In addition, the LLC reported interest income of $$12,000.$ Samuel received a guaranteed payment of $$120,000$ for services he performed for STU. How much income from self$-$employment did Samuel earn from STU?

$$220,000$

$$223,000$

$$120,000$

$$100,000$

Binita contributed property with a basis of $$40,000$ and a value of $$50,000$ to the BE Partnership in exchange for a $20\%$ interest in partnership capital and profits. During the first year of partnership operations, BE had net taxable income of $$30,000$ and tax$-$exempt interest income of $$10,000.$ The partnership distributed $$10,000$ cash to Binita. Her adjusted basis $($outside basis$)$ for her partnership interest at year$-$end is:

$$70,000.$

$$36,000.$

$$38,000.$

$$60,000.$