At the end of the taxable year, B Corp has current E&P of $50,000 without reduction for any distributions made during the year. The corporation also has accumulated E&P of $45,000. A distribution of $40,000 is made on May 1 and another distribution of $600,000 is made on December 1. B Corp files on the accrual basis using a calendar year. The distributions are made to its sole shareholder. What is the amount of accumulated E&P allocated to the December 1 distribution of $60,000?