the "capital account partnership" has just been formed and consists of only 3 members. Claudia contributes $50,000 in cash she recently obtained from the sale of equities. David purchases property worth $100,000 and contributes it to the partnership. Danny contributes high tech securities worth $150,000 to capital accounts. at the time of formation, the adjusted basis in the assets of the partnership under cash should be

select one:

a. $100,000; twice the contributed amount as the basis can be increased if substantial economic effect can be documented

b. $-0-until after 12 months have passed since the sale of the equities; then $50,000 will be recorded as adjusted basis

c. $25,000; one-half the amount contributed

d. $50,000; the total amount of cash received from the sale of the equities