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Problem $20-39($LO $20-2)($Static$)$

$[$The following information applies to the questions displayed below.$]$

Rania contributed equipment worth $\backslash (\backslash$$ $200,000\backslash ),$ purchased $10$ months ago for $\backslash (\backslash$$ $250,000\backslash )$ cash and used in her sole proprietorship, to Sand Creek LLC in exchange for a $15$ percent profits and capital interest in the LLC$.$ Rania agreed to guarantee all $\backslash (\backslash$$ $15,000\backslash )$ of Sand Creek's accounts payable, but she did not guarantee any portion of the $\backslash (\backslash$$ $100,000\backslash )$ 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 $20-39$ Part c $($Static$)$

c$.$ What is Sand Creek's initial basis in the contributed property?