Taxpayer A is a calendar year, cash basis taxpayer. They own 75% of ABC Corporation, an accrual-basis, calendar year, C-corporation. The corporation has AEP of $225,000 on January 1st, 2024. ABC Corporation experienced tough economic times in 2024 and incurred a loss of $300,000 for the year. Taxpayer A was very upset about the loss and required the corporation to distribute property to her on September 30th, 2024. The property was a piece of equipment with an adjusted basis of $50,000 and a FMV of $45,000. The property was encumbered by a liability of $55,000, which was assumed by Taxpayer A. How much of the distribution would be characterized as a dividend to Taxpayer A