$12.$ A and B are equal owners of Newco. They each contributed $$25,000$ in cash to organize the entity. In the first year of operation, the company obtained a $$100,000$ recourse loan, and earned $$30,000.$ There we no entity distributions. At year$$s end, A and B each have basis in their ownership interest of $$25,000.$ The entity is a$($n$)$:

a$.$ LLC

b$.$ General partnership

c$.$ Limited partnership

d$.$ C corp.

e$.$ S corp.