Question: Return to the facts of problem 21. How would your answers change if Binh is not a material participant in the Lamonica Partnership? Assume Binh

Return to the facts of problem 21. How would your answers change if Binh is not a material participant in the Lamonica Partnership? Assume Binh has no other passive income in either year. Write a memo to Binh explaining what he must do to achieve mutual participation.

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