Allison, Keesha, and Steven each owns an equal interest in KAS Partnership, a calendar-year-end, cash-method entity. On January 1 of the current year, Steven's basis in his partnership interest is $27,000. During January and February, the partnership generates $30,000 of ordinary income and $4,500 of tax-exempt income. On March 1, Steven sells his partnership interest to Juan for a cash payment of $45,000. The partnership has the following assets and no liabilities at the sale date: Assuming KAS's operating agreement provides for an interim closing of the books when partners' hterests change during the year, what is Steven's basis in his partnership interest on March 1 just prior o the sale? What is Juan's initial basis in the partnership interest? 1. What is the partnership's basis in the assets following the sale