EFG, Inc. is a calendar year corporation. EFG, Inc. had current earnings and profits of $100,000 and no accumulated earnings and profits when it made a nonliquidating distribution of a total of $160,000 equally to its two equal shareholders, Jane and Joe. On the date of the cash distribution, Janes basis in her EFG, Inc. stock was $10,000 and Joes basis in his EFG, Inc. stock was $35,000. What is Joes adjusted basis in his EFG, Inc. stock after the distribution? Group of answer choices

$0

$5,000

$15,000

$35,000