Partnership JKL was formed with each partner contributing $3,000 and taking an equal interest in profits and capital. JKL purchases two pieces of property A for $300 and property B for $700. After three years L receives a $2,000 liquidating distribution. At the time of L's distribution, property A has an FMV of $3,100 and property B has an FMV of $900. JKL has no other transactions, contributions, or distributions. If an optional basis adjustment is made, what will be the paretnership's basis in the two properties? a) Property A: $1,300; Property B: $700 b) Property A: $800; Property B: $1,200 c) Property A: $300; Property B: $1,700 d) None of the above