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Problem 10-4 (Algorithmic) Partnership Formation (LO 10.2) Nan contributes property with an adjusted basis of $132,300 to a partnership. The property has a fair market

Problem 10-4 (Algorithmic) Partnership Formation (LO 10.2)

Nan contributes property with an adjusted basis of $132,300 to a partnership. The property has a fair market value of $211,680 on the date of the contribution.

What is the partnership's basis in the property contributed by Nan?

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