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Agatha contributes cash of $10,000 plus land valued at $25,000 (basis = $5,000) subject to a nonrecourse mortgage of $15,000 to the Kristy Partnership for
Agatha contributes cash of $10,000 plus land valued at $25,000 (basis = $5,000) subject to a nonrecourse mortgage of $15,000 to the Kristy Partnership for a 50% interest. What is Agatha's outside basis in Kristy immediately after the contribution?
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