Sammy buys a 20% interest in Duvall Corporation paying $100,000 cash on January 1, 2014. During 2014, Duvall Corporation reports a loss of $60,000 and pays cash dividends to shareholders of $5,000. For 2015, Duvall Corporation has income of $200,000 and pays cash dividends of $40,000. If Duvall Company is organized as an S Corporation, Sammy's basis in the Duvall Corporation stock at the end of 2015 is:

	a.	$88,000
	b.	$89,000
	c.	$100,000
	d.	$119,000
	e.	$128,000

According to the test bank 2016, the answer is (d) $119000. Please explain how to calculate this. Thank you!