Loretta Contributes Property to a Partnership in Exchange for a 25

Loretta contributes property to a partnership in exchange for a 25 percent partnership interest.The property contributed has a fair market value of $45,000 and a basis of $35,000 on the date of the contribution to the partnership.In addition, Loretta receives a 10 percent partnership interest, valued at $18,000, in exchange for services rendered to the partnership.What is Loretta's basis in her partnership interest, immediately after these transactions?

A) $35,000
B) $45,000
C) $53,000
D) $63,000
E) None of the above

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