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Tour X has distributed to shareholder Julie $10,000 in cash and a new Tour X motocross bike that has a fair market value of $4,500.

Tour X has distributed to shareholder Julie $10,000 in cash and a new Tour X motocross bike that has a fair market value of $4,500. Assume that Tour X has current E&P of $150,000. What amount of dividend income will Julie report this year?

a.$10,000

b.$14,500

c.$150,000

d.$4,500

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