Mao and Madhav are equal partners in the M&M Partnership (calendar year-end entity). On January 1 of the current year, M&M Partnership is liquidated. At the time of the liquidation, Mao's basis in her partnership interest is $108,000 and Madhav's basis is $38,200. Mao receives the following assets in the liquidation, which is a proportionate liquidation: (Leave no answer blank. Enter zero if applicable.) Cash Inventory Land Tax Basis $32,000 6,200 700 FMV $32,000 7,280 1, 240 $40,520 Totals $38,900 What is Mao's basis in the distributed assets? Basis Cash Inventory Land