X, Y, and Z form XYZ Partnership by contributing cash and property as follows: X contributes $40,000 cash for a 20 percent interest. Y contributes property valued at $80,000 for a 40 percent interest. This property has a basis in Y's hands of $50,000. For the remaining 40 percent interest, Z develops the partnership agreement and performs other services that are valued at $5,000. In addition, he contributes property with a fair market value of $100,000 with a $25,000 mortgage that the partnership guarantees. The property has a basis of $70,000 in Z's hands. Determine X, Y, and Z's basis in their partnership interests. Determine the partnership's basis in the assets contributed.