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Rania contributed equipment worth $$180,000,$ purchased $8$ months ago for $$201,000$ cash and used in her

proprietorship, to Sand Creek LLC in exchange for a $20$ percent profits and capital interest in the LLC$.$ Rania agreed to

guarantee all $$18,100$ of Sand Creek's accounts payable, but she did not guarantee any portion of the $$90,000$

nonrecourse mortgage securing Sand Creek's office building. Other than the accounts payable and mortgage, Sand Creek

does not have any liabilities to other creditors.

a$.$ What is Rania's initial tax basis in her LLC interest?