Frank is a 1/3 shareholder in an S corporation. At the beginning of the year, Frank's basis in his S corporation stock was $10,000. Frank's share of the S corporation items of income included $35,000 of income from operations, $1,000 of charitable contributions, and $1,000 of capital gains. During the year, Frank also contributed $15,000 of additional capital and received a $3,000 distribution from the S corporation. What is Frank's basis at the end of the tax year?
a. $46,000
b. $57,000
c. $60,000
d. $65,000