Ana contributed land purchased four years ago and previously used in her sole proprietorship to Elm, a general partnership. The land had an adjusted basis of $50,000 to Ana and a fair market value of $30,000. In exchange for her contribution, Ana received a 10 percent capital and profits interest in Elm. The partnership has a $60,000 mortgage (nonrecourse debt) securing its warehouse, but otherwise has no debt.

What is Ana's beginning basis in her partnership interest?