_____ in January 2006, Conn and Krete Formed a Partnership

_____ In January 2006, Conn and Krete formed a partnership, each contributing $50,000 cash. The partnership agreement provided that Conn would receive a salary allowance of $30,000 and that partnership profits and losses (computed after deducting Conn's salary) would be shared equally. For the year ended 12/31/06, the partnership's operations resulted in a profit of $48,000 after Conn's salary allowance. The partnership had no outstanding liabilities as of 12/31/06. Conn was paid in cash $22,000 of his salary allowance of $30,000. What is the amount of Conn's partnership tax basis as of 12/31/06?

A) $104,000
B) $82,000
C) $74,000
D) $52,000
E) None of the above.