Domestic Corporation X Owns All the Stock of Controlled Foreign

Multiple Choice

Domestic corporation X owns all the stock of controlled foreign corporation (CFC) T.X's acquisition cost for the CFC investment is $150,000.The CFC reports E&P of $200,000 since the domestic corporation acquired its interest,of which $120,000 was Subpart F income.The CFC makes a cash distribution of $90,000 to the domestic corporation.What is the domestic corporation's basis for its investment in T immediately after the cash distribution?

A) $150,000
B) $180,000
C) $230,000
D) none of the above