PROBLEM D 7.5 POINTS ART DODGER RECEIVED A 5% INTEREST IN ABC ASSOCIATES, A PARTNERSHIP FORMED TO MANAGE A SHOPPING CENTER. THE INTEREST IS CONTINGENT UPON ART'S ABILITY TO OBTAIN TENANTS. THE PARTNERSHIP'S ASSETS WAS $1,200,000 AND DEBT WAS $1,000,000 AT THAT POINT. WHAT IS THE TAX EFFECT TO THE PARTNERSHIP AND TO ART DODGER IF: 1) ART DODGER OBTAINED THE EQUITY INTEREST IMMEDIATELY? 2) ART DODGER DID NOT OBTAIN AN EQUITY INTERESTIMMEDIATELY AND DOES NOT MAKE A CODE SECTION 83 (B) ELECTION? 3) ART DODGER DOES MAKE A CODE SECTION 73(B) ELECTION