In a Real Estate Limited Partnership, the general partner refinances an existing $5,000,000 mortgage on a $10,000,000 property to the original amount of $8,000,000. The interest rate on both mortgages is the same. Given that information, which of the following statements are TRUE?
I Interest deductions to the limited partners will be increased
II Interest deductions to the limited partners will remain the same
III The partnership tax basis will be increased
IV The partnership tax basis will remain the same

A) I and III
B) I and IV
C) II and III
D) II and IV