C and D form the CD General Partnership. C has a 30 percent interest in capital, profits, and losses; D has 70 percent. C contributes land with a fair market value of $160,000 and a mortgage balance of $70,000. He acquired the land 5 years ago for a total purchase price of $45,000. The mortgage balance, along with the land, is transferred to the partnership. D contributes $210,000 cash. What is the partnership's basis in the land? Show work for partial credit.