Required information [The following information applies to the questions displayed below] Mickey. Mickayla, and Toylor are starting a new business (MMT). To get the business started, Mickey is contributing $205,000 for a 40 percent ownership interest, Mickayla is contributing a building with a value of $205,000 and a tax besis of $151.250 for a 40 percent ownership interest, and Taylor is contributing legal services for a 20 percent ownership interest. What amount of gain is each owner required to recognize under each of the following alternative situations? (Hint Look ot IRC 9351 and 9721 .) (Leave no answer blank. Enter zero if opplicoble.) b. MMT is formed as an S corporation