Bill is of five shareholders. This year he received a distribution of land owned by Bailey Corp. with a fair market value of $60,000 cash. Bailey Corp. had a $50,000 adjusted basis in the land. Bill had an adjusted basis in the stock of 15,000. Bailey corporation had current earnings of $30,000 and accumulated earnings of (10,000). What is the tax treatment of the distribution to Bill?

	A.	$30,000 Dividend, $15,000 Return of Capital, $15,000 Capital Gain
	B.	$20,000 Dividend, $15,00 Return of Capital, $25,000 Capital Gain
	C.	$25,000 Capital Gain
	D.	$15,000 Capital Gain
	E.	$60,000 Dividend
	F.	Recognized gain of $10,000