D Question Onhanwary 1 of the current year, Sarah and Bart form an equal partnership Sarah makes a cash contribution of $60,000 and a property contribution (adjusted basis of $160,000; fair market value of $140,000) h exchange for her interest in the partnership. Bart contributes property Ladjusted basis of $120,000; fair market value of $200,000) in exchange for his partnership interest. Which of the following statements is truel concerning the income tax results of this partnership formation? O Bart has a $120,000 tax basis for his partnership interest. None of the statements is true