Assume that at the end of 2021. Clampett, Incorporated (an S corporation) distributes property (fair market value of $40,000, basis of $5,000 ) to each of its four equal shareholders (aggregate distribution of $160.000 ). At the time of the distribution. Clampett, Incorporated, has no corporate earnings and profits and J.D. has a basis of $50,000 in his Clampett, Incorporated, stock. What is J.D.'s stock basis after the distribution? Multiple Choice $45,000 $50,000 $85,000 $90,000 None of the choices are correct