Rosa contributes $50,000 to a business entity in exchange for a 10% ownership interest. Rosa materially participates in the entity. The business entity incurs a loss of $900,000 for the current year and has liabilities at the end of the year o $700,000. Of this amount, $150,000 is recourse debt and $550,000 is nonrecourese debt. a. Assume that the business entity is a partnership. How much can Rosa deduct on her income tax return? What is her basis for the partnership interest at the end of the current tax year? b. Assume that the business entity is a c corporation. How much can Rosa deduct on her income tax return? What is her basis for the stock at the end of the current year