L invests $60,000 for one-third interest in the LMN partnership as a limited partner. During the period, L's share of the partnership income is $120,000 and L has withdrawn $75,000. The partnership has recourse liabilities of $48,000. What is L's basis in the partnership assuming that L has NO obligation to contribute additional funds? A) $60,000, B) $89,000, C) $105,000, D) $121,000.