Peter, Ashley and Erin are partners in a consulting business. Peter's initial contribution was $30,000, Ashley's was $20,000 and Erin's was $10,000. The partnership also borrows $60,000 from Regina Credit Union. The partners agree that profits and losses will be shared in proportion to their capital contributions. The business fails. What is Peter's liability to Regina Credit Union?

Multiple Choice

a.$20,000

b.Nothing

c.$10,000

d.$60,000

e.$30,000