Dolly receives a proportionate, nonliquidating distribution from the Melon Partnership. The distribution consists of $40,000 cash and property with an adjusted basis to the partnership of $140,000 and a fair market value of $170,000. Immediately before the distribution, Dolly's adjusted basis for her partnership interest is $160,000. Dolly's basis in the noncash property received is: Select one:

a. $170,000.

b. $120,000.

c. $140,000.

d. $ 40,000.