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Leo, Mike, Donnie, and Raph are forming a general partnership to consult on municipal sewer construction projects. Given the below information, calculate the initial outside
Leo, Mike, Donnie, and Raph are forming a general partnership to consult on municipal sewer construction projects. Given the below information, calculate the initial outside basis for each partner. Each partner will have an equal profit sharing ratio and the partnership will take on an unsecured loan for liquidity. The partners are each have equal personal liability for the loan as the lending institution require personal guarantees from the partners.
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