An equal partnership is formed by Ross and Rachel. Ross contributes cash of $10,000 and a building with a fair market value of $150,000, adjusted basis of $55,000, and subject to a liability of $60,000. Rachel contributes cash of $100,000. What is the partnership basis in the building contributed by Ross?

Select one:

a.

$55,000

b.

$90,000

c.

$60,000

d.

$150,000

e.

$35,000