Brent, Matt, Chris, Brad, and Anwer are five unrelated shareholders who each own 20 of the 100 outstanding shares of Aggle Corporation. On June 30 of this year, Aggle distributed $100,000 In cash to the shareholders. On September 30 of this year, Aggle redeemed all of Anwer's shares for $80,000. Aggle had $45,000 of accumulated E&P at the beginning of the year and reported $120,000 of current E&P at year-end. What is Aggle's accumulated E&P at the beginning of next year? Consult Rev. Rul. 74-338, 1974-2 C.B. 101. (Hint Determine the tax status of the redemption and then calculate the effect of the June distribution on current E&P.) (Negative amount should be indicated with a minus slgn.) s 120,000 69 20.000 Current E&P Less dividends paid Undistributed Current E&P Prorated Undistributed Current E&P at 9/30 Add Accumulated E&P at the beginning of year Total Accumulated E&P at 9/30 Reduce Accumulated E&P by Add current E&P in 4th quarter Accumulated E&P at beginning of next year 45.000 s 0