At the beginning of the current year James invested $50,000 of cash in exchange for an 80% ownership Interest in ARK, Ltd. During the year ARK experienced the following transactions:

Borrowed $10,000 from James

Generated Ordinary Business Income of $300,000

Borrowed $75,000 from Chase Bank.

Made a proportionate current property distribution with a FMV of $100,000 and basis of $150,000

Assume the entity is organized as an LLC, and that the operating agreement states that all items will be allocated proportionately based on capital interests. What is James ending outside basis in the entity?