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Clampett, Incorporated, has been an S corporation since its inception. On July 15,2023 , Clampett, Incorporated, distributed $60,000 to J.D. His basis in his Clampett, Incorporated, stock on January 1, 2023, was $32,000. For 2023 , J.D. was allocated $20,000 of ordinary income from Clampett, Incorporated, and no separately stated items. What is J.D.'s basis in his Clampett, Incorporated, stock after all transactions in 2023? Multiple Choice $52,000 $32,000 $12,000 ($20,000) None of the choices are correct. Assume that Clampett, Incorporated, has $250,000 of sales, $200,000 of cost of goods sold, $110,000 of interest income, and $90,000 of dividends. What is Clampett, Incorporated's excess net passive income? Multiple Choice $0 $87,500 $137,500 $200,000 None of the choices are correct