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Denise contributes the following assets to a partnership in exchange for a 25% partnership interest: FMV Basis cash 20,000 20,000 office equipment 12,000 5,000 auto

Denise contributes the following assets to a partnership in exchange for a 25% partnership interest:

FMV Basis

cash 20,000 20,000

office equipment 12,000 5,000

auto 20,000 6,000

What is Denise's beginning basis in her partnership interest?

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