On January 1 of the current year, the Hazelnut partnership was formed. Bill acquired a 20% interest in the partnership by contributing a computer system that had an adjusted basis to him of $15,000 and was subject to a $5,000 liability. During the year, the partnership paid off the liability. The partnership reported ordinary income of $75,000 on its first partnership retum. Compute Bill's ending basis in the partnership on December 31 of the current year. Show your calculations