$$

$$

B

c

D$.$

E

F

G

H

personal guarantees from the partners.

Leo is contributing land which is currently encumbered by nonrecourse debt and no cash.

Mike is contributing his marketing services in exchange for a capital interest in the partnership and cash.

Donny is contributing custom$-$built machinery which is currently encumbered by nonrecourse debt and cash.

Raph is contributing a van which is currently encumbered by nonrecourse debt and cash.

$10$

$\backslash$table$[[,$Fair Market Value,Basis,Nonrecourse Debt$],[$Land$,$$$100,000,548,000,550,000],[$Services Rendered,$530,000,,],[$Machinery$,575,000,$$$34,000,530,000],[$Van$,$$$50,000,540,000,$$$45,000$