Alex Is a Partner in a Calendar Year Partnership $\quad$ $\quad$

Alex is a partner in a calendar year partnership. His partnership Schedule K-1 for the current tax year showed the following:
Ordinary business income $\quad$$\quad$$\quad$$\quad$ $ 41,000
Short-term capital loss $\quad$$\quad$$\quad$$\quad$$\quad$ 1,500
Alex has a $7,000 loss carryforward from the partnership last year, which he could not deduct because of the basis limitation. What is his tax basis in his partnership interest at the end of the current tax year?

A) $41,000
B) $32,500
C) $39,500
D) $34,000