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Caitlin, Rowan, and Ashlee formed CR&A , a general partnership, as equal partners. Caitlin contributed $ 5 0 , 0 0 0 cash. Rowan contributed

Caitlin, Rowan, and Ashlee formed CR&A, a general partnership, as equal partners. Caitlin contributed $50,000 cash. Rowan contributed $20,000 cash and property with an adjusted basis of $20,000 and a FMV of $30,000. Ashlee contributed property with an adjusted basis of $38,000 and a FMV of $50,000. The partnership had $60,000 in ordinary income for the year. What is Rowan's ending tax capital account?
$40,000
$50,000
$60,000
$70,000

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