Bryan Corporation, an S corporation since its organization, is owned entirely by Mr. Bryan. The corporation uses a calendar year as its taxable year. Mr. Bryan paid $120,000 for his Bryan stock when the corporation was formed on January 1 of this year. For this year, Bryan Corporation reported the following results: Ordinary Income $65,000 Dividend Income 20,000 Short-term capital loss ( 2,000) Distributions of $40,000 were made during the year. What is the basis of Mr. Bryan's stock on December 31?