Paul, who is a doctor, is advised to invest in rental property. He becomes a 25% owner of US Realty LP. In year 1 Paul makes a capital contribution of $30,000. The partnership had net income of $500 in year 1(Paul share's of the gain is $125). In year 2, Paul makes an additional capital contribution of $10,000. The partnership has a net loss $5,000 in year 2. (Paul's share is $1,250). In year 3, partnership distributes $20,000 to Paul. Also, in year 3, the partnership incurs losses of $20,000 (Paul's share is $5,000). What is Paul's At-Risk/Tax Basis at the start of year 4?