At the End of the Taxable Year B Corporation Has

At the end of the taxable year B Corporation has current E&P of $50,000 without reduction for any distributions made during the year.The corporation also has accumulated E&P of $45,000.A distribution of $40,000 is made on May 1 and another distribution of $60,000 is made on December 1.B Corporation files on the accrual basis using a calendar year.The distributions are made to its sole shareholder.The amount of current E&P allocated to the May 1 distribution of $40,000 is

A) $20,000
B) $40,000
C) $33,333
D) $0
E) None of the above