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Maui Corporation makes two distributions during the current tax year: the first for $ 2 0 , 0 0 0 on February 1 and the
Maui Corporation makes two distributions during the current tax year: the first for $ on February and the second for $ on August Before consideration of the distributions, the corporation has $ in current earnings and profits and $ of accumulated earnings and profits. How much of the first distribution is taxable to the shareholders as a dividend?
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