Question 48 of 75. At the beginning of the year, Rachel purchased a 10% interest in KLM Partnership. She purchased her interest from an existing partner for $20,000. In March of that year, she contributed an additional 55,000 cash to the partnership, and in April she contributed computer equipment. Her adjusted basis in the equipment was $3,500. Rachel's Schedule K-1 (Form 1065) for that year reported ordinary income of $1,000. What is Rachel's year-end adjusted basis in the partnership? $20,000 $21,000 $28,500 $29,500 Jo.000 5 000 3900