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Sallycontributes a television from her home to a newlyformed accountingpartnership. Sally's basis is $3,000 and the fair market value of the TV at the time

Sallycontributes a television from her home to a newlyformed accountingpartnership. Sally's basis is $3,000 and the fair market value of the TV at the time of the contribution is $500. Assuming Sally made no other contributions, what is Sally's basis in her partnership interest?

a. $4,000

b.$3,000

c.$5,000

d.$500

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