Exercise $21-24($Algorithmic$)($LO$.10)$

Jokan contributes a nondepreciable asset to the Mahali LLC in exchange for a one$-$fourth $(25\%)$ interest in the LLC$\text{'}$s capital and profits and a $30\%$ interest in the LLC$\text{'}$s losses. The asset has an adjusted tax basis to Jokan and the LLC of $$75,000$ and a fair market value and $704($b$)$ "book" basis on the contribution date of $$135,000.$ The asset is encumbered by a nonrecourse note of $$45,000$ that has not been guaranteed by any of the LLC members.

How much of the nonrecourse debt is allocated to Jokan?

$11,250($This is CORRECT$)$

What is the amount of Jokan's basis in the LLC interest following the contribution?

$fill in the blank $2($I just need this one$)$