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
Municipal bond interest income $12,000
Ordinary income 40,000
What was Deanís tax basis in Target on December 31, 2012?