Reindeer Partnership has four equal partners: Donner, Blitzen, Dasher and Rudolph. Each of the partners had a tax basis of $320,000 at the beginning of the year. Reindeer's ordinary income for the year was $148,000 including guaranteed payments to Rudolph of $4,000 for services rendered to the partnership. During the current year, each of the four partners took a $50,000 distribution. What is Rudolph's tax basis in his Reindeer Partnership interest?

		$307,000
		$358,000
		$303,000
		472,000