Hawkeye Company reports current E&P of $300,000 this year and accumulated E&P at the beginning of the year o $200,000. Hawkeye distributed $400,000 to its sole shareholder, Ray Kinsella, on December 31 of this year. Ray's t pasis in his Hawkeye stock before the distribution is $75,000. at is Ray's tax basis in his Hawkeye stock after the distribution? hasis

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