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Jerry, a partner with 30% capital and profit interest, received his Schedule K-1 from Plush Pillows, LP

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Jerry, a partner with 30% capital and profit interest, received his Schedule K-1 from Plush Pillows, LP. At the beginning of the year, Jerry's tax basis in his partnership interest was $58,000. His current year Schedule K-1 reported an ordinary loss of $23,000, long-term capital gain of $3,800, qualified dividends of $2,800, $1,300 of non-deductible expenses, a $18,000 cash contribution, and a reduction of $4,800 in his share of partnership debt. What is Jerry's adjusted basis in his partnership interest at the end of the year?

Multiple Choice

• $35,000.

• $41,600.

• $53,500.

• $58,300.