Allison, Keesha, and Steven each own equal interests in KAS Partnership, a calendar-year-end, cash-method entity. On January 1 of the current year, Stevens basis in his partnership interest is $29,250. During January and February, the partnership generates $32,970 of ordinary income and $5,202 of tax-exempt income. On March 1, Steven sells his partnership interest to Juan for a cash payment of $49,950. The partnership has the following assets and no liabilities at the sale date: Tax Basis FMV Cash $ 34,500 $ 34,500 Land held for investment 34,500 69,000 Totals $ 69,000 $ 103,500 a. Assuming KASs operating agreement provides for an interim closing of the books when partners interests change during the year, what is Stevens basis in his partnership interest on March 1 just prior to the sale?