1. Jim and Stan formed a tax consulting partnership on February 1, 2018. Each partner contributed $50,000 in return for an equal share of the profits from the partnership. On January 1, 2022, Stan sold his interest to Julie for $150,000.

   The following is the income statement of the partnership:

   Jim and Stan

   Income Statement

   For the year ended December 31, 2021

   Gross revenue $424,400

   Expenses:

   Office expenses $69,000

   Rent 58,300

   Office salaries 74,300

   Charitable donations 10,600

   Amortization (Note 1) 23,300

   Meals and entertainment 15,000 250,500

   173,900

   Other income:

   Gain on sale of shares (Note 2) $84,800

   Dividends from Canadian-resident public corporations 40,000

   Capital dividends 17,000 141,800

   Net income $315,700

   Notes:

   1. Capital cost allowance (CCA) for 2021 was $40,300.
   2. The capital gain for tax purposes is the same as the financial accounting gain.

   In 2021, each partner drew $132,000.

   Prior year financial statements of the partnership provided the following information for the following years ended December 31:

   2018 2019 2020

   Business income (loss) $(70,000) $127,300 $159,100

   Taxable capital gains - 12,800 -

   Charitable donations - 4,200 8,400

   Drawings Jim 24,000 48,000 60,000

   Drawings Stan 24,000 48,000 72,000

   Required:

   What is Stan's adjusted cost base (ACB) of the partnership interest immediately before the sale? (assume his share of the partnership income is $128,700) (round to nearest dollar, no dollar signs)