On January 1, Turquoise Corporation (a calendar year taxpayer) has accumulated E&P of $300,000. During the year, Turquoise incurs a deficit in current E&P of $420,000. On January 31, Turquoise distributes $180,000 to Mary, its sole shareholder, who has a basis in her stock of $112,500. How much of the $180,000 distribution is a dividend to Mary? O $0 O $90,000 O $112,500 $180,000