Robert Ballard, a Sole Proprietor, Entered into Partnership with Another

Robert Ballard, a sole proprietor, entered into partnership with another individual. Ballard's investment in the partnership included equipment that cost $64,000 when it was purchased. The equipment has a book value of $36,000 and a net agreed-on value of $40,000. In the financial records of the partnership, this equipment and its accumulated depreciation should be recorded at

A) $36,000 and $0, respectively.
B) $64,000 and $24,000, respectively.
C) $40,000 and $0, respectively.
D) $64,000 and $28,000 respectively.