Paul and Wayne equally own PW Partnership. Paul's basis was $$30,000$ and Wayne's basis was $$22,000$ at the beginning of the year. PW Partnership had the following income and expense items:

Sales $ $330,000$

Cost of goods sold $220,000$

Guaranteed payment to Paul $40,000$

Rent expense $24,000$

Depreciation $33,000$

Interest expense $4,000$

Tax$-$exempt income $3,000$

Health insurance premiums for Paul $3,600$

Health insurance premiums for Wayne $3,600$

PW Partnership's non$-$financial information is as follows:

Name: PW Partnership

Address: $5$ Furniture Street, Anywhere, NC $28777$

EIN: $56-1234567$

Date Partnership Began: $01/01/12$

Business Code: $442110$

Principal Business Activity: Retail

Principal Product or Service: Furniture

Follows the Cash Method of Accounting Calculate Wayne$$s basis in his partnership interest.