Dalworth and Minor have decided to form a partnership. Minor is going to contribute a depreciable asset to the partnership as her equity contribution to the partnership. The following information regarding the asset to be contributed by Minor is available: Historical cost of the asset$84,000?Accumulated depreciation on the asset$44,000?Note payable secured by the asset and assumed by the partnership$27,000?Agreed-upon market value of the asset$49,000?Based on this information, Minor's beginning equity balance in the partnership will be:
A. $27,000
B. $49,000
C. $40,000
D. $22,000
E. $84,000
Answer: D
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