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On May 1, Erik contributed 7,500 and property, with an adjusted basis of 9,500 and a fair market value of 12,500, for 35% share of

On May 1, Erik contributed 7,500 and property, with an adjusted basis of 9,500 and a fair market value of 12,500, for 35% share of partnership. What is his beginning basis? 7,500, 9,500, 17,000, 20,000

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