The DELS partnership was formed by combining individual accounting practices on May 10, 20X1. The initial investments were as follows:

	Current Value			Tax Basis
Delaney:
Cash	$	8,400		$	8,400
Building		61,600			33,600
Mortgage payable, assumed by DELS		37,500			37,500
Engstrom:
Cash		9,500			9,500
Office furniture		23,600			17,400
Note payable, assumed by DELS		11,400			11,400
Lahey:
Cash		12,300			12,300
Computers and printers		18,600			22,800
Note payable, assumed by DELS		16,400			16,400
Simon:
Cash		22,200			22,200
Library (books and periodicals)		7,700			5,700

Required: b. Calculate the tax basis of each partners capital if Delaney, Engstrom, Lahey, and Simon agree to assume equal amounts for the payables.