The partner's basis in the distributed (noncash) property:

1) Quentin's adjusted basis in his Wagon Partnership interest is $63,000. During the year, Quentin received a nonliquidating distribution of $30,000 plus equipment with an adjusted basis of $20,000 to Wagon and a FMV of $25,000.

2) Duane had an adjusted basis in his Peach Partnership interest of $80,000 on July 13,2015. On that date, Duane received a liquidating distribution of land with an AB to Peach of $25,000 and a FMV of $35,000 and equipment with an AB to Peach of $35,000 and a FMV of $50,000. Determine the basis of the equipment only.