In the current year, Blue Corporation $($E & P of $$1,000,000)$ redeems $600$ shares from Eleanor for $$260,000($Eleanor$$s basis in stock was $$120,000)$ in a transaction that does not qualify as a redemption. With respect to the redemption, Eleanor will have a:

a$.$

$$140,000$ dividend

b$.$

$$260,000$ dividend

c$.$

$$140,000$ capital gain

d$.$

$$260,000$ capital gain