Coy and Matt are equal partners in the Matcoy Partnership. Each partner has a basis in his partnership interest of $29,000 at the end of the current year, prior to any distribution. On December 31, each receives an operating distribution. Coy receives $10,600 cash. Matt receives $3,170 cash and a parcel of land with a $7,430 fair market value and a $4,200 basis to the partnership. Matcoy has no debt or hot assets.

e. What is Matt's ending basis in his partnership interest?