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Larry Corporation has current E&P of $105,300 and accumulated E&P of ($84,500). Larry distributed $95,000 to its shareholders. How much of the distribution is taxable
Larry Corporation has current E&P of $105,300 and accumulated E&P of ($84,500). Larry distributed $95,000 to its shareholders. How much of the distribution is taxable as dividend income?
a)$0
b)$20,800
c)84,500
d)$95,000
e)105,300
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