Bradford, Inc. is a calendar year, accrual basis taxpayer. It had no accumulated E&P at the beginning of the current year but generated $30,000 of current E&P during the year. It made a distribution to its shareholders of $40,000 on June 30 of the current year, and another one of $60,000 on December 31. How much will the shareholders recognize as a taxable dividend as a result of the JUNE 30 distribution?

Group of answer choices

$0

$12,000

$15,000

$30,000

None of the above