Z corporation is owned equally by E, F, and G, each of whom own 200 shares in the corporation. E, G, and G are not related shareholders. E redeems 60 shares of his stock, recieving $80,000 from the corporation. Z corporation's earnings and profits total $100,000. What are the tax consequences to E of the redemption, assuming E has a $10,000 basis in the shares redeemed?