Faith pays $160,000 cash for Mark's one-third interest in the MWT Partnership. The partnership has a Sec. 754 election in effect. Just before the sale of Mark's interest, MWT's balance sheet appears as follows: (Click the icon to view the assets.) Read the requirements. Requirement a. What is Faith's total optional basis adjustment? Select the formula and then compute Faith's total optional basis adjustment Less: Optional basis adjustment Faith pays $160,000 cash for Mark's one-third interest in the MWT Partnership. The partnership has a Sec. 754 election in effect. Just before the sale of Mark's interest, MWT's balance sheet appears as follows: (Click the icon to view the assets.) Read the requirements. Requirement a. What is Faith's total optional basis adjustment? Select the formula and then compute Faith's total optional basis adjustment Less: Optional basis adjustment