Wonde contributed land with a fair market value of $500,000 and a tax basis of $144,000 to the Z Peak partnership in exchange for a 20 percent profits and capital interest in the partnership. The land is secured by $180,000 of nonrecourse debt. Other than this nonrecourse debt, Z Peak partnership does not have any debt. A. How much gain will Wonde recognize from the contribution? B. What is Wonde's tax basis in his partnership interest