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Dean is a 25% partner in Target Partnership. Deanís tax basis in Target on January 1, 2012, was $20,000. At the end of 2012, Dean received a nonliquidating cash distribution of $8,000 from Target. Targetís 2012 accounts recorded the following items:
Municipal bond interest income $12,000
Ordinary income 40,000
What was Deanís tax basis in Target on December 31, 2012?