3. Marina and Nolan formed the MN Partnership. Marina contributed $20,000 of cash in exchange for a 50% interest in the partnership capital and profits. During the first year of partnership operations, the following events occurred: the partnership had a net taxable income of $10,000; Marina received a distribution of $8,000 cash from the partnership; and Marina had a 50% share in the partnership's $16,000 of recourse liabilities on the last day of the partnership year. Calculate Marina's adjusted basis for the partnership interest at year-end.