AAA at the beginning of the year was $15,000 for Carver Corporations. During the year, Carver had the following: Ordinary Income $31,000 Tax Exempt Income $3,000 Capital Loss $5,000 Fines and Penalties $4,000 Carver also had Accumulated E&P of $10,000. Finally, Carver made $45,000 cash distributions during the year. What are the tax consequences of the cash distribution? a. All $45,000 is taxed as a dividend distribution b. $40,000 is taxed as a dividend distribution c. $5,000 is treated as a dividend distribution, the other $40,000 is not taxed d. None of the above