X Corp has $100 of accumulated E&P and ($50) of current E&P, without taking into account the
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Question:
X Corp has $100 of accumulated E&P and ($50) of current E&P, without taking into account the distribution in question here. It makes a cash distribution on the 90th day of the non-leap year of $200.
Required:
How much of the distribution is taxable as a dividend, (rounded to the nearest dollar)?
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