Bob and Tom form the Dream LLC, which elects partnership treatment. Bob contributes cash of $20,000, land (basis = $40,000 fair market value = $25,000), equipment (basis = $0 fair market value = $35,000), and inventory (basis = $30,000 fair market value = $40,000). Tom contributed $100,000 of cash and equipment (basis = $10,000, fair market value = $20,000). Each receives an equal interest in the partnership. How much is the partnerships basis in the land, equipment, and inventory, and how much is Tom's basis in his partnership interest?

a. $40,000 land, $10,000 equipment, $30,000 inventory $110,000 partnership interest.

b. $40,000 land, $0 equipment, $30,000 inventory $90,000 partnership interest.

c. $25,000 land, $35,000 equipment, $30,000 inventory $150,000 partnership interest.

d. $40,000 land, $35,000 equipment, $40,000 inventory $150,000 partnership interest.

e. $40,000 land, $0 equipment, $30,000 inventory $120,000 partnership interest.