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 Matcoy Partnership Each partner has a basis in his partnership interest of $30,000 at the end of the current year, prior to any 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? Basis in cash Bassin land