T Purchased a 60 Percent Interest in Partnership Z for $100,000

Multiple Choice

T purchased a 60 percent interest in partnership Z for $100,000 on January 2 of the current year.During the year, the partnership had ordinary income of $50,000, tax-exempt income of $30,000, and made a cash distribution to owners of $6,000.T's basis in his partnership interest at the end of the year is

A) $100,000
B) $144,400
C) $120,000
D) $194,000