Harvey and Quick Have Decided to Form a Partnership

Harvey and Quick have decided to form a partnership. Harvey is going to contribute a depreciable asset to the partnership as his equity contribution to the partnership. The following information regarding the asset to be contributed by Harvey is available: Historical cost of the asset $76,000
Accumulated depreciation on the asset $40,000
Note payable secured by the asset* $18,000
Agreed-upon market value of the asset $45,000
*will be assumed by the partnership
Based on this information, Harvey's beginning equity balance in the partnership will be:

A) $76,000
B) $36,000
C) $18,000
D) $27,000
E) $45,000