Mr. Jackson has contributed a 10 acre of Land which has a fair market value of $725,000 and which was purchased about five years ago for $450,000 in Cash to Baby Lion LLC, (a partnership firm) in exchange of 90% of the profits, losses and Capital interests in LLC. Baby Lion LLC owes $550,000 to its suppliers, to be considered as nonrecourse debt. Calculate Mr. Jacksons outside basis.

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