James Purchased Land Costing $22,000 in 2015

James purchased land costing $22,000 in 2015.He paid $2,000 in legal fees and other expenses to complete the purchase.In 2016,James spends $24,000 subdividing the land and running utilities to the property.Interest paid on the loan used to finance the purchase and subdividing total $1,750 in 2015 and $3,200 in 2016.James paid $350 of property taxes in 2015 and $750 of property taxes in 2016.What is James's basis in the land at the end of 2016?

A) $24,000
B) $46,000
C) $48,000
D) $50,950
E) $52,050