$1.$ Partners W$,$ X$,$ Y$,$ and Z form the Ace partnership, contributing the following:

$$

$$

Interest

$$

Basis

FMV

Liability

W

$40\%$

Prop. $1$

$$40,000$

$$200,000$

$$160,000$

X

$40\%$

Prop. $2$

$$120,000$

$$60,000$

$$20,000$

Y

$10\%$

Prop. $3$

$$10,000$

$$70,000$

$$60,000$

Z

$10\%$

Prop. $4$

$$30,000$

$$20,000$

$$10,000$

$$

$1.$ How much is each partner$$s basis in their partnership interest $($Tax basis$)?$

$2.$ How much is each partner$$s capital account $($Book basis$)?$

$3.$ What is each property$$s basis to the partnership, assuming that a Code Sec. $754$ election is not in effect $($Tax basis$)?$