Required information [The following information applies to the questions displayed below.] Lance contributed investment property worth $645,000, purchased four years ago for $372,500 cash, to Cloud Peak LLC in exchange for an 90 percent profits and capital interest in the LLC. Cloud Peak owes $407,500 to its suppliers but has no other liabilities. a. What is Lance's tax basis in his LLC interest? Tax basis b. What is Lance's holding period in his interest? Holding period c. What is Cloud Peak's basis in the contributed property? Basis d. What is Cloud Peak's holding period in the contributed property? Holding period