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# George pays $10,000 for a 20% interest in a general partnership which has recourse liabilities of $20,000.

2. George pays $10,000 for a 20% interest in a general partnership which has recourse liabilities of $20,000. The partners share the economic risk of loss from recourse liabilities in the same way they share partnership losses. George's basis in his partnership interest is a.$10,000b.$12,000c.$14,000d.$30,000