QUESTION 88 Bev contributes $10,000 cash and land worth $45,000 to ABC partnership solely in exchange for a 25% interest in ABC. Bev's basis in the land is $60,000. Before contribution, Bev had used the land for camping and fishing, but not for any business or investment purpose. Bev's basis in her partnership interest and ABC's basis in the land are: O $70,000 and $60,000, respectively. $55,000 and $60,000, respectively. $55,000 and $45,000, respectively. $70,000 and $45,000, respectively. None of the above.