The SMT Partnership distributes the following property to Sweetwater in a distribution that liquidates Sweetwaters interest in the partnership. Assume that no Sec. 754 election is in effect. Sweetwaters basis in his partnership interest before the distribution is $69,000. The adjusted bases and FMVs of the distributed property to the partnership before the distribution are as follows:

Assets	Basis	FMV
Cash	$5,000	$5,000
Inventory	16,000	18,000
Capital Asset 1	20,000	30,000
Capital Asset 2	40,000	35,000
Total	81,000	88,000

Determine Sweetwaters basis in each distributed asset. Show computations for full credit.