Cosmo contributed land with a fair market value of $467,500 and a tax basis of $147,000 to the Y Mountain partnership in exchange for a 20 percent profits and capital interest in the partnership. The land is secured by $178,000 of nonrecourse debt. Other than this nonrecourse debt, Y Mountain partnership does not have any debt. (Leave no answer blank. Enter zero if applicable.)

b. What is Cosmos tax basis in his partnership interest?