Cosmo contributed land with a fair market value of $515,000 and a tax basis of $96,750 to the y mountain partnership in exchange for a 40 percent profits and capital interest in the partnership. the land is secured by $149,000 of nonrecourse debt. other than this nonrecourse debt, y mountain partnership does not have any debt. (leave no answer blank. enter zero if applicable.)
a. how much gain will cosmo recognize from the contribution?
b. what is cosmo’s tax basis in his partnership interest?

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)