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uestion 12 (1 point) Alice contributes equipment (fair market value of $82,000; adjusted basis of $20,000), subject to a $14,000 liability, to form Orange Partnership,
uestion 12 (1 point) Alice contributes equipment (fair market value of $82,000; adjusted basis of $20,000), subject to a $14,000 liability, to form Orange Partnership, a general partnership. Mary contributes $68,000 cash. Alice and Mary share equally in partnership profits and losses. What is Alice's and Mary's basis for their partnership interests? $6,000 to Alice, $68,000 to Mary. $6,000 to Alice, $75,000 to Mary. $13,000 to Alice, $75,000 to Mary. $20,000 to Alice, $68,000 to Mary
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