An individual received a 70% capital interest in a general partnership by contributing the

following:

Investment land purchased 10 years ago for $40,000 and valued at $60,000

A personal (nonbusiness) truck purchased nine months ago for $12,000 and valued

at $10,000

The partnership obtains a $50,000 nonrecourse mortgage loan on the land. How much

is this general partner's basis in the partnership after the contribution and loan?

a. 85,000

b. 87,000

c. 100,000

d. 102,000

I am stuck