40. Ed and Bob form a partnership with contributions of $30,000 each. Bob is not a general partner. Under the partnership agreement, Ed and Bob share all partnership profits and losses equally. The partnership borrows $70,000 to purchase depreciable equipment to be used in the partnership's business. Ed was required under the partnership agreement to pay the creditor if the partnership defaulted. Based upon these facts, what are Ed and Bob's basis in the partnership? Ed / Bob A. $30,000 / $30,000 B. $65,000 / $65,000 C. $100,000 / $30,000 D. $100,000 / $100,000