Mira and Lemma are equal owners of a business entity. Each contributed $60,000 cash to the business. Then the entity acquired a $240,000 loan from a bank. This year operating profits totaled $72,000. Determine Lemmas basis in her interest at the end of the tax year assuming that the entity is a partnership, a C corporation, or a S corporation.

a. If the entity is a partnership, Mira and Lemma each have a basis of $________________ at the end of the year.

b. If the entity is a C corporation, Mira and Lemma each have a basis of ___________________ at the end of the year.

c. If the entity is an S corporation, Mira and Lemma each have a basis of ____________________ at the end of the year.