Two partners each have a 50% interest in the partnership's capital and profits. The December 31, Year 3, balance sheet for the partnership is listed below. Adjusted Basis Fair Market Value Cash $ 25,000 $ 25,000 Land 75,000 375,000 Total assets $100,000 $400,000 Adjusted Basis Fair Market Value Capital A $ 50,000 $200,000 Capital D 50,000 200,000 Total capital $100,000 $400,000 On January 1, Year 4, one partner purchased half of the other partner's interest in the partnership for $100,000. A valid Sec. 754 election is in place. What is the adjusted tax basis of the partnership's assets after this transaction