John and Katerina form JK Enterprises in the current year. John contributes $200,000 in cash for a 40% interest. Katerina contributes real estate valued at $480,000 and encumbered by a mortgage of $180,000 that is assumed by the business.

Katerina's basis in the real estate is $100,000. She receives a 60% interest in the business. What is each owner's basis in his or her interest and the entity's basis in the assets acquired if JK Enterprises is organized as

a. A partnership?

b. A corporation?

c. An S corporation?