Christine and Essa each own one-half of the stock in Purple Corporation, a calendar year taxpayer. Christine and Essa each have a $400,000 basis in Purple Corporation stock. Cash distributions from Purple are: $350,000 to Christine on April 1 and $150,000 to Essa on May 1. If Purple has no accumulated E&P and it's current E&P is $60,000, what is Christine's Purple Corporation stock basis after her $350,000 cash distribution? o $50,000 O $80,000 O $92,000 0 $400,000