Tangelo Corporation has an August 31 year-end. Tangelo had $50,000 in accumulated E \& P at the beginning of its 2022 fiscal year (September 1,2021 ) and during the year, it incurred a $75,000 operating loss. It also distributed $65,000 to its sole shareholder, Cass, on November 30, 2021. If Cass is a calendar year taxpayer, how should she treat the distribution when she files her 2021 income tax return (assuming the return is filed by April 15, 2022)? a. $60,000 of dividend income and $5,000 recovery of capital. b. $65,000 of dividend income. c. The distribution has no effect on Cass in the current year. d. $50,000 of dividend income and $15,000 recovery of capital