Prob 2.In each of the independent cases below, indicate the taxable portion and return of capital for each distribution.

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Prob 2. In each of the independent cases below, indicate the taxable portion and return of capital for each distribution. Accumulated E&P Beginning of Year Current E&P Taxa ble Amount Return of Capital a. $40,000 b. 40,000 c. (40,000) $20,000 20,000 40,000 Year-End Cash Distribution $70,000 30,000 50,000