Required Information Problem 09-42 (LO 09-2) (Algo) [The following information applies to the questions displayed below.] When High Horlzon LLC was formed, Maude contributed the following assets In exchange for a 25 percent capital and profits Interest In the LLC: *Nonrecourse llability secured by the land equals $167,500 Hiro, Harold, and Sofiya each contributed $245,750 in cash for a 25 percent profits and capltal Interest. Note: Leave no answer blank. Enter zero if appllcable. Problem 09-42 Part d (Algo) d. What Is High Horizon's tax basis in its assets