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Harry is a shareholder in Hammer Corp. His basis in the stock is $20,000. Hammer Corp makes a distribution to Harry of $75,000, and has

Harry is a shareholder in Hammer Corp. His basis in the stock is $20,000. Hammer Corp makes a distribution to Harry of $75,000, and has the following E&P: Current E&P $10,000 Accumulated E&P $35,000 How much of the distribution is treated as a dividend

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