Maggie, the sole shareholder, had a basis of $60,000 in the stock of Livingston Corporation which she sold to Ruth on July 31, 2020 for $140,000. Livingston Corporation had positive Accumulated Earnings And Profits (E&P) of $70,000 on January 1, 2020 and positive Current Earnings And Profits (E&P) for 2020 of $50,000. During 2020, Livingston Corporation made the following distributions: $100,000 Cash to Maggie on July 1, 2020 and $100,000 Cash to Ruth on December 31, 2020. Ruth will have Taxable Dividend Income for 2020 of:

		$100,000.
		$ 60,000.
		$ 25,000.
		$ 95,000.