Milton has a basis in his partnership of $$300,000,$ including his $$80,000$ share of partnership liabilities. At the end of the current year the partnership pays off the liabilities and makes a proportionate current distribution to its partners. Milton receives a parcel of land $($partnership basis of $$120,000$ and FMV of $$135,000)$ and inventory $($partnership basis of $$160,000$ and FMV of $$180,000).$ Following the distribution what is Milton$$s basis in the land?