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" Totals $ 28,000 $ 28,000 128,500 385,500 $156, see $413,5ee "Nonrecourse debt secured by the land equals $175,500 James, Harold, and Jenny each contributed $238,000 in cash for a 25 percent profits and capital interest. (Leave no answer blank. Enter zero if applicable.) a. How much gain or loss will Maude and the other members recognize? Maude James Harold Jenny Gain or loss recognized b. What is Maude's tax basis in her LLC interest? Tax basis c. What tax basis do James, Harold, and Jenny have in their LLC interests? James Harold Jenny Tax basis d. What is High Horizon's tax basis in its assets? Tax basis