L invests $60,000 for one-third interest in LMN Partnership as a limited partner. During the period, L's share of the partnership income is $130,000 and L has withdrawn $75,000. The partnership has r

L invests $60,000 for one-third interest in LMN Partnership as  a limited partner. During the period, L's share of the partnership income is $130,000 and L has withdrawn $75,000. The partnership has recourse liabilities of $48,000. Using this information, what is L's basis in the partnership assuming that L has no obligation to contribute additional funds?

$60,000

$89,000

$105,000

$121,000