Dalworth and Minor have decided to form a partnership. Minor is going to contribute a depreciable asset to the partnership as her equity contribution to the partnership. The following information regarding the asset to be contributed by Minor is available:

Historical cost of the asset	$	93,000
Accumulated depreciation on the asset	$	48,500
Note payable secured by the asset*	$	36,000
Agreed-upon market value of the asset	$	53,500

Based on this information, Harvey's beginning equity balance in the partnership will be:

Multiple Choice

$53,500

$93,000

$17,500

$44,500

$36,000