Question: Partnership Formation ( LO 1 0 . 2 ) Nan contributes property with an adjusted basis of $ 1 1 7 , 0 0 0

Partnership Formation (LO 10.2)
Nan contributes property with an adjusted basis of $117,000 to a partnership. The property has a fair market value of $187,200 on the date of the contribution.
What is the partnership's basis in the property contributed by Nan?

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