Partner Spence had the following items reported on a partnership Schedule K-1: Ordinary income$57,000 Interest income 4,900 Dividend income 5,300 Guaranteed payment 15,000 Section 179 expense 16,000 Cash distribution 20,000 Spence had a basis in his partnership interest of $23,000 at the beginning of the year. What is Spence's basis in his partnership interest at the end of the year?
A. $31,200.
B. $70,200.
C. $21,000.
D. $54,200.
Answer: D
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