Felicia Contributes Property with a FMV of $48,000 (Adjusted Basis

Multiple Choice

Felicia contributes property with a FMV of $48,000 (adjusted basis $36,000) for a one-third interest in the partnership.The property is subject to a $24,000 mortgage.Betty (a one-third partner after Felicia's contribution) has an increase in her basis in the partnership of

A) $0.
B) $4,000.
C) $8,000.
D) $12,000.