Grace, James, Helen, and Charles each owns an equal interest in GJHC Partnership, a calendar-year-end, cash-method entity. On January 1 of the current year, Jamess basis in his partnership interest is $80,500. For the taxable year, the partnership generates $72,000 of ordinary income and $32,400 of dividend income. For the first five months of the year, GJHC generates $21,750 of ordinary income and no dividend income. On June 1, James sells his partnership interest to Robert for a cash payment of $87,750. The partnership has the following assets and no liabilities at the sale date: (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.)

	Tax Basis	FMV
Cash	$ 48,250	$ 48,250
Land held for investment	96,250	122,850
Totals	$ 144,500	$ 171,100

a. Assuming GJHCs operating agreement provides that the proration method will be used to allocate income or loss when partners interests change during the year, what is Jamess basis in his partnership interest on June 1 just prior to the sale?