At the beginning of the current tax year, Duncan, a 30% owner of Hands On, Inc. (an S corporation), had an adjusted basis of $11,500 in the company's stock. For the tax year, Hands On, Inc., had $119,000 in net business income, $33,400 in dividend income, and $8,600 in income from royalties. The company also had $6,000 in charitable contributions and $7,100 in nondeductible expenses. At the end of the tax year, what is Duncan's adjusted basis in Hands On, Inc.?

a) $55,000 b) $55,870 c) $52,230 d) $50,630