Sirlin Co., a CCPC that is not associated with any other corporation, had taxable income in the current year of $700,000, consisting of ABI of $600,000 and AII of $100,000. Sirlin also received total dividends in the year of $60,000. Of that amount, $36,000 had been designated as eligible dividends. Sirlin had no GRIP balance at the end of the preceding year. During the current year, Sirlin declared and paid a dividend of $160,000. 

What is the maximum amount of dividends Sirlin may designate as eligible, without incurring a penalty? Assume that full amount of the annual business limit is available to Sirlin.