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Quail Corporation, a calendar year corporation that began doing business on January 1 , 2 0 X 1 , had accumulated earnings and profits of
Quail Corporation, a calendar year corporation that began doing business on January X had accumulated earnings and profits of $ as of January X On April X Quail distributed $ cash to its shareholder. Quail had a $ deficit in current earnings and profits for X Jennifer Jumpers, Quail's sole shareholder, had an adjusted basis of $ in her Quail stock before the distribution. What is the amount of Jennifer's basis in the stock after the distribution?
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