Rania contributed equipment worth $$185,000,$ purchased $9$ months ago for $$196,000$ cash and used in her sole proprietorship, to Sand Creek LLC in exchange for a $30$ percent profits and capital interest in the LLC$.$ Rania agreed to guarantee all $$13,800$ of Sand Creek's accounts payable, but she did not guarantee any portion of the $$92,500$ nonrecourse mortgage securing Sand Creek's office building. Other than the accounts payable and mortgage, Sand Creek does not have any liabilities to other creditors.

Problem $9-39$ Part a $($Algo$)$

a$.$ What is Rania's initial tax basis in her LLC interest?