In the current year, Bruce formed an equal partnership with Norman. Bruce contributed land with an adjusted basis of $50,000 and a fair market value of $60,000. Bruce also contributed $40,000 cash to the partnership. Norman contributed land with an adjusted basis of $15,000 and a fair market value of $80,000. The land contributed by Bruce was encumbered by a $30,000 nonrecourse debt. The land contributed by Norman was encumbered by $10,000 of nonrecourse debt. Assume the partners share debt equally. Immediately after the formation, Bruce's book capital account will be