The following items are relevant for the first income tax return for the Kent Carter Estate. Mr.Carter,a cash method of accounting taxpayer, died on July 1, 2016.

The record date was June 14 for $5,000 of the dividends and October 31 for the remaining $11,000 of dividends. The bond interest is payable annually on October 1. Mr. Carter's basis in the land was $18,000. He sold it in May of 2015 for a total sales and contract price of $45,000 and reported his gain under the installment method. Ignore interest on the installment note.

Requirement

What amount of IRD should be reported on the estate's calendar year income tax return? (Do not round intermediary ratios.

Dividend $16000

Interest on corporate Bond $16000

Collection on installment note from sale of investment land $22000