Spieth Corporation reported taxable income of $500,000 from operations this year. The company paid federal income taxes of $105,000 on this taxable income. During the year, the company made a distribution of land to its sole shareholder, Jordan Day. The lands fair market value was $75,000 and its tax and E&P basis to Spieth was $125,000. Jordan assumed a mortgage attached to the land of $15,000. The company had accumulated E&P of $750,000 at the beginning of the year.

What amount of dividend income does Jordan report as a result of the distribution?