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Exercise 5-15 (Algorithmic) (LO. 1) At the beginning of the year, Myrna Corporation (a calendar year taxpayer) has E&P of $128,150. The corporation generates no

image text in transcribed Exercise 5-15 (Algorithmic) (LO. 1) At the beginning of the year, Myrna Corporation (a calendar year taxpayer) has E&P of $128,150. The corporation generates no additional E \& P during the year. On December 31 , the corporation distributes $192,225 to its sole shareholder, Abby, whose stock basis is $38,445. How is the distribution treated for tax purposes? If an amount is zero, enter "0". As a result the distribution Abby has the following: - Dividend income: \$ - Return of capital: \$ - Capital gain: $ - Stock basis after the distribution: $

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