Required information When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: Fair Market Value Basis Maude: Cash Lands Totals $ 27,750 $ 27,750 125,500 413,500 $153,250 $441,250 "Nonrecourse debt secured by the land equals $198.000 James, Harold, and Jenny each contributed $243,250 in cash for a 25 percent profits and capital interest. (Leave no answer blank. Enter zero if applicable.) b. What is Maude's tax basis in her LLC interest? Tax basis Required information When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: Fair Market Value Basis Maude: Cash Land Total's $ 27,750 $ 27,750 125,500 413,500 $153,250 $441, 250 'Nonrecourse debt secured by the land equals $198,000 James, Harold, and Jenny each contributed $243,250 in cash for a 25 percent profits and capital interest. (Leave no answer blank. Enter zero if applicable.) c. What tax basis do James, Harold, and Jenny have in their LLC interests? James Harold Jenny Tax basis