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Loretta contributes property to a partnership in exchange for a 2 5 % partnership interest. The property contributed has a fair market value of $

Loretta contributes property to a partnership in exchange for a 25% partnership interest. The property contributed has a fair market value of $45,000 and a basis of $35,000 on the date of the contribution to the partnership. In addition, Loretta receives a 10% partnership interest, valued at $18,000, in exchange for services rendered to the partnership. What is Loretta's basis in her partnership interest, immediately after these transactions?

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