Jack and Jill are equal partners in the firm of Nursery Association. On January 1 of the current year, each partner's adjusted basis in Nursery was $50,000. During the year, Nursery borrowed $80,000, for which Jack and Jill are personally liable. Nursery sustained an operating loss of $50,000 for the current year. The basis of each partner's interest in Nursery at the end of the current year was: a. $50,000 O b. $75,000 c. $65,000 d. $35,000