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cookie Corporation has a $20,000 deficit in accumulated earnings and profits, and $100,000 (positive) current earnings and profits. On July 1, it distributes $110,000 to

cookie Corporation has a $20,000 deficit in accumulated earnings and profits, and $100,000 (positive) current earnings and profits. On July 1, it distributes $110,000 to its shareholders. How much of the distribution will be taxable as a dividend?

Group of answer choices

a. $90,000

b. $110,000

c. $80,000

d. $100,000

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