On January 1, 2012, Conrad Nelson contributed $15,000 cash in exchange for 50 shares of stock in Sterling Inc., an S corporation. Sterling employs Conrad as its director of marketing. Conrads 2012 salary was $70,000 and his pro rata share of sterlings 2012 ordinary business income was $16,800 During the year, Conrad received a $9,000 cash distribution with respect to his Sterling stock. Compute Conrads basis in his Sterling stock on January 1, 2013