Express Corporation is a calendar year, accrual-basis S-corporation that is owned 100% by Doug. The corporation was originally a C-Corporation but converted to an S-Corporation ten years ago. At the beginning of 2020, Express Corporation has the following corporate balances; Accumulated Adjustment Account (AAA) of $15,000; Other Adjustments Account (OAA) of $2,500 and accumulated Earnings & Profits (AEP) of $22,000. Doug has a basis in his shares of $60,000 at the beginning of 2020. During 2020, the corporation recorded the following: Non-separately stated ordinary income of $20,000, Long term capital gain $1,000; Tax-free municipal bond interest income earned $2,000 and non-deductible penalty paid of $500. Express Corporation also paid out a distribution of $65,500 to Doug at the end of the year. What is the ending stock basis?