An estate distributes an asset to its sole income beneficiary. The distribution was not a specific bequest. The basis of the asset to the estate is $1,000, and the asset's fair market value is $5,000. Distributable net income of the estate is $9,500. No other distributions are made, nor was an election made by the fiduciary with respect to this distribution. 9. The estate's distribution deduction, and the beneficiary's taxable income, from the distribution is: a. $1,000. b. $4,000. C. $5,000. d. $9,500.