Cedar Corporation Is a Calendar Year Taxpayer Formed in 2012

Cedar Corporation is a calendar year taxpayer formed in 2012. Cedar's E & P for each of the past 5 years is listed below. 2016
$28,000
2015
$40,000
2014
$39,000
2013
$68,000
2012
$16,000
?
Cedar Corporation made the following distributions in the previous 5 years. $\begin{array}{llr} \text {2015 } & \text { Land (basis of \( \$ 70,000 \) , fair market value of \( \$ 80,000 \) ) }\\ \text { 2012 } & \$20,000\text { cash }\\\end{array}$
?
Cedar's accumulated E & P as of January 1, 2017 is:

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