7-On January 1, Abel was a 25% partner in Corn General Partnership, which had partnership liabilities of $300,000. On January 2, a new partner was admitted and Abels interest was reduced to 20%. On April 1, Corn repaid a $100,000 general partnership loan. Ignoring any income, loss, or distributions for the year, what was the net effect of the transactions described for Abels tax basis in Corn partnership interest?

Group of answer choices

a)Has no effect.

b)Decrease of $35,000.

c)Increase of $15,000

d)Decrease of $75,000.