Required information. [The following information applies to the questions displayed below.] Mickey, Mickayla, and Taylor are starting a new business (MMT). To get the business started, Mickey is contributing $200,000 for a 40 percent ownership interest, Mickayla is contributing a building with a value of $200,000 and a tax basis of $150,000 for a 40 percent ownership interest, and Taylor is contributing legal services for a 20 percent ownership interest. What amount of gain or income is each owner required to recognize under each of the following alternative situations? [Hint Look at IRC 5351 and $721.) (Leave no answer blank. Enter zero if applicable.) a. MMT is formed as a C corporation. Gain or income to be recognized Mickey Mickayla Taylor $ 100,000