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Natalie became a 23% partner in the Johnson Partnership by contributing an asset in which she had an adjusted basis of $26,000. The fair market

Natalie became a 23% partner in the Johnson Partnership by contributing an asset in which she had an adjusted basis of $26,000. The fair market value of the asset was $90,000. The asset Natalie contributed was subject to a $66,000 mortgage, which was assumed by the partnership. No other liabilities existed at the time of contribution. What is Natalie's basis in her partnership interest?

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