PC:9-43 (similar to) Question Help Brandy and Will are partners in the BW Partnership. Brandy owns a 70% capital, profits, and loss interest. Will owns the remaining interest. Both materially participate in partnership activities. At the beginning of the current year, BW's only liabilities are $10,000 in accounts payable, which remain outstanding at year-end. In November, BW borrows $120,000 on a nonrecourse basis from First Bank. The loan is secured by property with a $240,000 FMV. These are BW's only liabilities at year-end. Bases for the partnership interests are $224,000 for Brandy and $96,000 for Will after considering the impact of liabilities but before considering operations. BW has a $320,000 ordinary loss from operations during the current year. Requirement How much loss can Brandy and Will recognize? Brandy will recognize a loss of Will will recognize a loss of