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Business, 06.04.2021 05:00 carterdaw

Core Corporation reported current earnings and profits of $250,000. Core distributed a building with an adjusted basis of $170,000 and a fair market value of $230,000 to its sole shareholder. The building had a mortgage of $90,000, which the shareholder will assume. What is the amount of the dividend received by the shareholder? A. $80,000.
B. $140,000.
C. $230,000.
D. $250,000.

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