The Trotter Trust, a simple trust, has the receipts and expenditures listed below for the current year. Assume the Uniform Act governs an item’s classification as principal or income. The trustee’s fee is charged onehalf to principal and one-half to income. What is the trust’s net accounting income and the maximum amount it can distribute? Assume the trust instrument precludes distributing principal currently.

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Dividends $15,000 Interest on tax-exempt bonds 7,000 Loss on sale of capital asset (9,000) Rental income from land 6,000 Property taxes on rental property 1,000 Trustee's fee 1,800