Enter problem statement, appropriate input type, and other instruction here ABC Corporation and Billy form a general partnership ABC contributes a building with a fair market value of 1,000,000 and a tax basis of S100,000. The partnership also assumen a recounselinblity of $400,000 ABC monives a to interest in partnership capital and profits, Billy contributes inventory with a fait market value of $400,000 and a tax basis of $100.000 for 340% Interest in partnership capital and profits What tax basis do ABC and Billy have in their partnership interests OA ABC basis is $100,000 Bays bis is $100,000 OB. ABC's basis is $600,000. Bay's basis is $400,000 OC. ABC's basis is $0, Bily's basis is $260,000 OD. ABC's basis is $340,000. Balys batis is $200,000