Mustafa, Mickayla, and Taylor are starting a new business $($MMT$).$ To get the business started, Mustafa is contributing $$230,000$ for a $40$ percent ownership interest, Mickayla is contributing a building with a value of $$230,000$ and a tax basis of $$157,500$ 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 $721.]$