Solve the following question
Question- The TGF LLC had three equal interest holders, T, G, and F. They each had a capital account of $400,000 and the LLC had $300,000 recourse liabilities. The fair market value of the LLC assets was $1,500,000 their bases was $700,000 when H made a capital contribution for a one-fourth interest in capital, profits, and losses.
Part 1- Based on the fair market value of the assets, how much should H contribute for his one-fourth interest?
Part 2- Assume that soon after H became a member of the LLC the LLC sold the assets for $1,500,000, when their capital was still $400,000. What should be H's share of the profit from the sale of the assets, assuming the members are dealing at arm's length?
I want experts help to find how much should H contribute in interest.