assume the tax rate for all c-corporations is 21%

Boal Corporation's accumulated earnings and profits (E&P) is zero at the beginning of 20X1. and its 20X1 current E&P is $75,000. The following events occur during 20X1: March 31: Boal makes a Sec. 301 distribution of $45,000 cash to its shareholders August 1: Jess purchases 100% of Boal's stock September 30: Boal makes a Sec. 301 distribution of $55,000 cash to Jess How much dividend does Jess have for 20X1? $37.500 $55,000 $41.250 O $30,000