Mike Jones, a cash-basis taxpayer, earned an annual salary of $110,000 at Iron Corp. in 2014, but he elected to take only $80,000. Iron Corp., which was financially able to pay Mike's full salary, credited the unpaid balance of $30,000 to Mike's account on the corporate books in 2014, and actually paid this $30,000 to Mike on January 30, 2015. How much of the salary is taxable to Mike in 2014?

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