Question: Heather contributed 5000 for a 25% interest in a mobile clothing store. She also contributed a point of sale with a fair market value of

Heather contributed 5000 for a 25% interest in a mobile clothing store. She also contributed a point of sale with a fair market value of 800 and an adjusted basis of 500. During the year the boutique earned a profit of 18000. what is Heather's partnership basis in this business at the end of the year?
a. 4500
b. 5500
c. 10000
d. 10300

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