An oil tanker collided with a ship in Tampa Bay. The resulting oil spill severely curtailed the fishing business for two months. The Franklin Fishing Boat Co, made a claim against the tanker’s owner for impairment of Franklin’s revenue during the twomonth period. Mr. Franklin received an initial payment of $50,000 from the tanker’s owner, $20,000 of which was for lost revenue and $30,000 of which was for punitive damages allowed by state law from a handler of hazardous substances. How much of the award, if any, is taxable?