please help, stuck.

As of January 1, Cass Corporation has a deficit in accumulated E\&P of $100,000. For the tax year, current E\&P (accrued ratably) is $240,000 (prior to any distributions). On July 1, Cass Corporation distributes $275,000 to its sole shareholder. The amount of the distribution that is a dividend is: $275,000 $20,000 $240,000 $140,000