5. (10 points) Jamarri is a 25% partner in Pismo Partnership. Jamarri's tax basis in Pismo on January 1, 2019 was $20,000. Pismo had bank liabilities of $40,000 at the beginning of 2019 and had $60,000 of bank liabilities on Dec. 31, 2019. At the end of 2019, Jamarri received a non-liquidating cash distribution of $8,000 from Pismo. Pismo's 2019 accounts recorded the following items: municipal bond interest income of $12,000; and ordinary income of $40,000. What was Jamarri's tax basis in Pismo on December 31, 2019