5 years after its formation, Up the Hill Corporation wants to pay dividends to its shareholders Jack and Jill. On 1/1 Year 6, it has accumulated E&P of $80,000 and on 12/13, it has current E&P of $40,000. It distributes a $30,000 cash dividend at end of year to Jack and Jill for a total of $60,000. How much of the dividend distribution is taxable to Jack and Jill? What is the effect to UTHs current and accumulated E&P? What is accumulated E&P on 1/1, Year 7