In the Current Year,Greg Formed an Equal Partnership with Melvin

In the current year,Greg formed an equal partnership with Melvin.Greg contributed land with an adjusted basis of $90,000 and a fair market value of $150,000.Greg also contributed $75,000 cash to the partnership.Melvin contributed land with an adjusted basis of $100,000 and a fair market value of $200,000.The land contributed by Greg was encumbered by a $50,000 nonrecourse debt.The land contributed by Melvin was encumbered by $25,000 of nonrecourse debt.Assume the partners share debt equally.Immediately after the formation,the basis of Melvin's partnership interest is:

A) $0.
B) $77,500.
C) $112,500.
D) $125,000.
E) $137,000.