Rich Corporation, an S corporation since its organization, is owned entirely by Mr. Rich. The corporation uses a calendar year as its taxable year. Mr. Rich paid $200,000 for his Rich stock when the corporation was formed on January 1, 2016. For 2016, Rich Corporation reported the following results: Ordinary income $40,000; tax-exempt bond interest income 6,000; Short-term capital loss (3,000); No distributions were made during 2016. What is the basis of Mr. Richs stock on December 31, 2016?