Bily Creacy received 100 shares of stock, as a gift from his uncle, Jay Jackson. Jay purchased the stock 6 years ago at $14 per share. The fair...

Bily Creacy received 100 shares of stock, as a gift from his uncle, Jay Jackson. Jay purchased the stock 6 years ago at $14 per share. The fair market value on the date of the gift was $16 per share. Billy held the stock for 6 months, and sold it for $22 per share.

What is Billys basis in the stock when it was sold?