Required Information Part 1 of 4 The following Information applies to the questions displayed below. Lance contributed Investment property worth $605,000, purchased three years ago for $300,000 cash, to Cloud Peak LLC In exchange for an 90 percent profits and capital interest in the LLC Cloud Pea owes SC 000tots upp lets ut has no other debts. 0.5 points a. What Is Lance's tax basis In his LLC Interest? basis Print