Tyson is a 25 percent partner in the KT Partnership. On January 1 , KT makes a proportionate distribution of $16,000 cash, inventory with a $16,000 fair value (inside basis $8,000 ), and land with a fair value of $8,000 (inside basis of $12,000 ) to Tyson. KT has no liabilities at the date of the distribution. Tyson's basis in his KT Partnership interest is $24,000. What is Tyson's basis in the distributed inventory and land? Multiple Choice $8,000 inventory, $0 land $16,000 inventory, $8,000 land $0 inventory, $8,000 land $8,000 inventory, $12,000 land