\Benchmark,Inc. ,a U.S.shareholder owns 100% of a CFC from which Benchmark receives a $3 million cash distribution.The CFC's E & P is composed of the following amounts. 
Benchmark recognizes a taxable dividend of:
A) $3 million.
B) $700,000.
C) $2,300,000.
D) $0.
Correct Answer:
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