Question $14$:

Byrd and Falls each own one$-$half $(1/2)$ of the stock of Phillips Corporation, a Regular $($C$)$ Corporation. Each shareholder has an adjusted basis in her stock of $$100,000.$ Phillips Corporation has Accumulated Earnings And Profits $($AEP$)$ of $$500,000.$ Phillips Corporation's Taxable Income for the current year is $$80,000$ and it distributes $$50,000$ to each shareholder. Byrd$\text{'}$s basis in her stock at the end of the year is $$100,000.$

A$.$ True

B$.$ False