Mickey, Mickayla, and Taylor are starting a new business $($MMT$).$ To get the business started, Mickey is contributing $$250,000$ for a $40$ percent ownership interest, Mickayla is contributing a building with a value of $$250,000$ and a tax basis of $$162,500$ for a $40$ percent ownership interest, and Taylor is contributing legal services for a $20$ percent ownership interest. What amount of gain is each owner required to recognize under each of the following alternative situations? $[$Hint: Look at IRC $351$ and $721.]($Leave no answer blank. Enter zero if applicable.$)$b$.$ MMT is formed as an C corporation.