Charla received preferred stock as a nontaxable common stock dividend in 2020 from marisa corporation. The value of the preferred stock when received by Charla was $20,000 and the value of the common stock was $30,000. Charla acquired the common stock in 2018 for $60,000 and marisa corporation earnings and profits (E&P) was $100,000 on the date of the distribution of the preferred stock. Six 6 months after the receipt of the preferred stock, Charla sold the preferred stock to an unrelated third party for the $50,000. The basis allocated to the common stock as a result of this transaction is:

$36,000

$50,000

$24,000

$60,000