Question: Please answer in detail with explanation and computation Required information Problem 21-39 (LO 21-3) (Algo) [The following information applies to the questions displayed below) Coy

Please answer in detail with explanation and computation

Required information Problem 21-39 (LO 21-3) (Algo) [The following information applies to the questions displayed below) Coy and Matt are equal partners in the Motcoy Partnership Each partner has a basis in his partnership interest of $30.000 at the end of the current year, prior to ony distribution. On December 31, each receives an operating distribution Coy receives $11 200 cash: Matt receives $3,340 cash and a parcel of land with a $7.860 fair market value and a $4,400 basis to the partnership. Matcoy has no debt or hot assets Problem 21-39 Part d (Algo) d. What is Matt's basis in the distributed property? Bass in cash

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