Mustafa, Mickayla, and Taylor are starting a new business $($MMT$).$ To get the business started, Mustafa 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 or income is each owner required to recognize under each of the following alternative situations? $[$Hint Look at $351$ and $721.]$

Note: Leave no answer blank. Enter zero if applicable.

MMT is formed as a C corporation.

$\backslash$table$[[$Gain or income to be recognized$],[$Mustafa$,$$$,0],[$Mickayla$,$$$,0],[$Taylor$,,]]$