Samantha, James, and Paul organized SJP partnership with each partner receiving a 33.33% interest on January 1, 2021. the partnership has a calendar year end on December 31. Samantha contributed legal services in preparing the partnership paperwork valued at 120000.

Paul contributed cash of 120000

james contributed cash of 10000 and land having a FM of 150000 and a basis of 20000. there was a nonrecource mortgage attached to the land in the amount of 40000 that was assumed by the partnership.

during 2021 SJP has 150000 in ordinary income, 4500 in interest income, and 9000 in long term capital gain. the partnership had 60000 in recourse debt at the end of 2021.

what is each partner's basis in their partnesrship interest at the end of 2021 ?