Ruchi contributes property with an adjusted basis of $80,000 and a fair market value of $100,000 to a newly formed business entity. If the entity is a partnership and the transaction qualifies under 721, the partnership's basis for the property and the partner's basis for the partnership interest are:

Asset Basis

Stock Basis

a.$80,000 $100,000

b.$100,000 $100,000

c.$80,000 $80,000

d.$100,000 $80,000