An inter vivos earned $50000 in eligible dividends. In addition, it received interest of $12000 during the current year. the trust incurred accounting fees of $2000 which were claimed by the trust. the trust has one beneficiary who is 23 years old and has no other source of income. during the current year, all of the dividends were distributed to the beneficiary and none of the interest.

What is the net income for tax purposes of the beneficiary?