A and B form general partnership AB that is not an LLP. A contributes real $60,000, in exchange for an 80% interest in the partnership. The basis of the con- property with a fair market value of $100,000 subject to a recourse mortgage of nership interest. Assume there is a state law assumption of the mortgage by the partnership a. What are A's and B's bases for their partnership interests immediately following the formation of the partnership? b. Does A recognize any gain upon the contribution of the property? 3. Same as Problem 2, except A and B form an LLC rather than a general partner- ship and there is no deficit restoration obligation. 4. Same as Problem 2, except B guarantees the mortgage, B has no right of contribu- tion against A or AB if she is called upon to make payment on the guaranty, and if A is required to make payment on the mortgage, A is entitled to reimbursement from B