Required Information [The following information applies to the questions displayed below.) Coy and Matt are equal partners in the Matcoy Partnership. Each partner has a basis in his partnership Interest of $37,500 at the end of the current year, prior to any distribution. On December 31, each receives an operating distribution. Coy receives $15,700 cash. Matt receives $4,615 cash and a parcel of land with a $11,085 fair market value and a $5,900 basis to the partnership. Matcoy has no debt or hot assets. b. What is Coy's ending basis in his partnership Interest? Ending basis d. What is Matt's basis in the distributed property? Basis in cash Basis in land e. What is Matt's ending basis in his partnership Interest? Ending basis