In 2020 Ryce contributes nondepreciable property with an adjusted basis of $143,400 and a fair market value of $215,100 to the Montgomery Partnership in exchange for a one-half interest in profits and capital. In the next tax year, when the property's fair market value is $229,440, the partnership distributes the property to Jarvis, the other one-half partner. Jarvis's basis in the partnership interest was $229,440 immediately before the distribution. Which partner must recognize the built-in gain, what is the amount recognized, and what is the effect on that partner's basis in the partnership interest? What is the effect on Jarvis's basis in the nondepreciable property received?

Ryce must recognize gain of $71,700 in the year the property is distributed to Jarvis. He increases his basis in his partnership interest by the gain recognized. Jarvis' basis in the property is $__________.