Dale and Roy formed a partnership early this year. Dale contributed $150,000 cash in exchange for a 50% interest in the partnership. Roy contributed land with a tax basis of $90,000, and a fair market value of $150,000 in exchange for the remaining 50% interest in the partnership. What will be the balance in Roy’s book capital account in the partnership’s balance sheet?
a. $150,000.
b. $90,000.
c. $60,000.
d. $75,000.