Question: Baxter Corp. reports current E&P of $ 2 0 0 , 0 0 0 in 2 0 2 4 and accumulated E&P at the beginning

Baxter Corp. reports current E&P of $200,000 in 2024 and accumulated E&P at the beginning of 2024 of $100,000. Baxter distributed $400,000 to its sole shareholder Kaley D. on January 1,2024. How much of the distribution is treated as a dividend in 2024?

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