Corporation a and corporation z go into partnership to develop, produce, and market a new product. the two corporations contribute the following properties in exchange for equal interests in az partnership: - corporation a corporation z cash $ 100,000 $ 50,000 business equipment (fmv) 30,000 80,000 corporation a’s tax basis in the contributed equipment is $34,000, and corporation z’s tax basis in the contributed equipment is $12,000. a. compute each corporation’s realized and recognized gain or loss on the formation of az partnership. b. compute each corporation’s tax basis in its half interest in az partnership. c. compute the partnership’s tax basis in the equipment contributed by each corporate partner.