Mosrite Corporation has Accumulated E\&P of $80,000 at the beginning of the year but Current EGP is negative, ($60,000). Mosright makes a distribution of $70,000 to its sole shareholder on September 30 th. How much of this dividend is taxable income to the shareholder? SEE TOPIC 7 APPLICATION HANDOUT. DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWERI ALLOCATE BYMONTHS FOR SIMPLICITY