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janda and kelsey contributed $1,000,000 each to the jkl llc in exchange for 45% capital and profits interests in the entity. lilli will contribute no cash but has agreed to manage the llc's business operations in exchange for an $80,000 annual salary and a 10% interest in the llc's capital and profits (valued at $200,000).
What are the consequences of the entity formation and Lilli’s compensation arrangement to the LLC members and the LLC itself?
assume lilli is fully vested in the capital interest.

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