Braxton Darcy, Matt Marteny, and Jacob Kittle formed a partnership on April $1,2021.$ The partnership provides engineering services to a variety of clients and has a December $31$ fiscal period. Each partner makes an initial car contribution of $$205,000.$

With respect to the various items that must be allocated to individual partners, the partnership agreement contains following provisions:

View the provisions of the partnership agreement.

Read the require

View the additional information.

Provisions of Partnership Agreement

Requirement A$.$ Calculate the ACB of Jacob's partnership interest as of January $1,2024.($Round your answers to the nearest whole dollar.$)$

Initial capital contribution

Additional capital contribution

Total capital contribution

Drawings

Business income

$\backslash$table$[[205000],[77500],[282500],[56000],[9964]]$

Capital gains to Marteny and Kittle

Dividends to Darcy

Charitable donations

ACB of Jacob's partnership interest

$354876$

Provisions of Partnership Agreement

Business income: The three partners will equally share the business profits. Capital gains: Capital gains realized by the partnership will be shared equally by Matt Marteny and Jacob Kittle.

Eligible dividends: All allocated to Braxton Darcy.

Charitable contributions: Charitable contributions will be allocated equally to the three partners.

For the period April $1,2021,$ to December $31,2023,$ the following income tax information is available:

The partnership business profits are $$233,490.$

The partnership realized a $$18,454$ capital gain.

The partnership received eligible dividends totalling $$4,692.$

During the $2023$ fiscal period, the partnership made $$8,490$ in charitable donations.

Additional capital was required to expand the business, and, therefore, each partner contributed an additional $$77,500$ in cash in the $2023$ fiscal period.

Partner withdrawals in the $2023$ fiscal period were as follows: Braxton Darcy, $$110,500$; Matt Marteny, $$233,000$; and Jacob Kittle, $$56,000.$

All of the above amounts represent the relevant amounts for income tax purposes, so no reconciliation adjustments are necessary.

Near the end of $2023,$ Jacob Kittle has announced that he will be withdrawing from the partnership effective January $1,2024.$ After some negotiations, each of the other partners agreed to purchase one$-$half of his interest in the partnership for $$165,000$ apiece, a total of $$330,000.$ The payments are to be made on February $1,2024.$ The partnership has business income of $$21,200$ in January $2024.$

Jacob incurred legal and accounting fees in connection with the sale of his partnership interest of $$1,900.$