Keith formed Partridge, Inc. (PI) on January 1, 20x1 by contributing $100,000 in exchange for 100% of PI stock. PI immediately (and properly) elected S corporation status. During 20x1, PI earned taxable income of $20,000 and tax-exempt interest of $2,000. PI also distributed $6,000 in cash out to Keith during 20x1. At December 31, 20x1, PI's only liability was a loan payable to U.S. Bank for $30,000. What is Keith's basis in his PI stock on December 31, 20x1? A. $116,000 B. $146,000 C. $100,000 D. $114,000