Robert Elk paid $100,000 for all of the single class of stock of Elkom Corporation, an electing S corporation, when incorporated in January Year 1. Elkom's operating results and dividend distribution are as follows:
What is Elk's basis for his Elkom stock on December 31 of 2019?
Definitions:
Psychophysics
The scientific study of the relationship between the physical properties of stimuli and the sensations and perceptions they produce.
Signal Detection Research
A field of study that explores how decisions are made under conditions of uncertainty and the processes through which signals are distinguished from noise.
Sensation
The process by which sensory receptors and the nervous system receive and represent stimulus energies from the environment.
Light Bulb
A device that produces light from electricity, consisting of a filament housed in a glass vacuum or filled with inert gas, illuminating when electric current passes through.
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