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Exit Corporation (a C corporation) has accumulated E\&P of $44,000 at the beginning of the current tax year and no current E\&P. During the year, the corporation makes the following current distributions to its sole shareholder who has a her stock before the distributions are made. The treatment of the $15,000 August 1 distribution would be Select one: a. $15,000 is taxable as a dividend; $5,000 from current E\&P and the balance from accumulated E\&P. b. $15,000 is taxable as a dividend from accumulated E\&P. c. $4,000 is taxable as a dividend from accumalated E&P, and $11,000 is taxfree as a return of capital. d. $5,000 is taxable as a dividend from accumulated E&P, and $10,000 is taxfree as a return of capital