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Robin Corporation, a calendar year taxpayer, has a deficit in current E & P of...

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Accounting

Robin Corporation, a calendar year taxpayer, has a deficit in current E & P of $200,000 and a $580,000 positive balance in accumulated E & P. If Robin determines that a $700,000 distribution to its shareholders is appropriate at some point during the year, what is the maximum amount of the distribution that could be treated as a dividend?

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