Cedar Corporation Is a Calendar Year Taxpayer Formed in 2013 $$\begin{array} { l l } 2017 & \$ 28,000 \\2016 & \$ 40,000 \\2015 & \$ 39,000 \\2014 & \$ 68,000 \\2013 & \$ 16,000\end{array}$$

question 114

Multiple Choice

Cedar Corporation is a calendar year taxpayer formed in 2013.Cedar's E & P before distributions for each of the past 5 years is listed below. $$\begin{array} { l l } 2017 & \$ 28,000 \\2016 & \$ 40,000 \\2015 & \$ 39,000 \\2014 & \$ 68,000 \\2013 & \$ 16,000\end{array}$$ ? Cedar Corporation made the following distributions in the previous 5 years. 2016 Land (basis of $\$ 70,000$ , fair market value of $\$ 80,000$ )
$2013 \quad \$ 20,000$ cash ?
Cedar's accumulated E & P as of January 1, 2018 is:

• A)$91,000.
• B)$95,000.
• C)$101,000.
• D)$105,000.
• E)None of the above.

---

Definitions:

Ice Cream Store

A retail shop specializing in selling ice cream and related desserts.

Single-Price Monopoly

A market situation where a monopoly exists and sells its product or service at a single price to all consumers without price discrimination.

Deadweight Loss

An economic inefficiency that emerges when an optimal market condition for a product or service isn't reached or is unreachable.

Pay-per-view

A type of television or online streaming service where viewers pay a fee to watch a specific event or program, typically special sports events or movies.