On January 1, 20X6, an S corporation has accumulated E\&P of $55,000 from its years as a C corporation and has a positive AAA balance of $15,000. The corporation's sole shareholder, Betty, has a basis in her S corporation stock of $30,000. During 20X6, the corporation reports ordinary income of $10,000 and a $20,000 long-term capital gain. During 20X6, the corporation distributes $65,000 to Betty. The amount of the distribution that represents a taxable dividend is: a. $0. b. $20,000. c. $50,000. d. $55,000