Jim, Tom, and Bill form a partnership and contribute the following assets: FMV Partnership % Jim's equipment Tom's building Bill's cash $ 50,000 $110,000 S 50,000 Basis $10,000 $90,000 $50,000 33.3% 33.3% 33.3% Tom's building has a mortgage of $75,000, which the partnership assumes. 14. Basis of Jim in partnership Basis of Tom in partnership 16. Basis of Bill in partnership