Nick and Rodrigo form NRC Partnership by combining the assets of their respective businesses. Nick contributes $10,000 cash and assets worth $90,000 (adjusted basis of $60,000) for a 1/3 interest. Rodrigo contributes $90,000 cash and assets worth $270,000 (adjusted basis of $150,000) for a 2/3 interest. NRC also assumes $60,000 of debt on Rodrigo's assets. What is Rodrigo's basis in his partnership interest?
A. $180,000
B. $220,000
C. $240,000
D. $300,000
E. $360,000
Answer: B
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