8. Cheryl and Rachel are equal partners in the C&R partnership. On January 1 of the current year, each partner's adjusted basis in the C&R partnership was $120,000. During the current year, C&R borrowed S180,000 for which Cheryl and Rachel are personally liable. C&R sustained a net operating loss of $30,000 in the current year ended December 31. If liabilities and losses are shared equally by the partners, on January of the next year each partner's basis in her current interest in C&R is: a. $15,000. b. $105,000 c. $120,000. d. e. $195,000. None of the above