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Jerry contributed $8,000 for a 25% interest in a bookstore. He also contributed a cash register, with a fair market value of $490 and adjusted
| Jerry contributed $8,000 for a 25% interest in a bookstore. He also contributed a cash register, with a fair market value of $490 and adjusted basis of $350. The store had a profit of $60,000 at the end of the year. What is Jerry's partnership basis in the bookstore at the end of the year? |
| A- $23,000 | |
| B- $23,300 | |
| C- $23,350 | |
| D- $23,490 |
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