Panther Trust has net accounting income and distributable net income of $100,000, $75,000 from taxable sources and $25,000 from tax-exempt sources. During the year, the trust makes a mandatory distribution to Julius and Steve of $50,000 each. How much of Steve's distribution is taxable?
A) $12,500
B) $25,000
C) $37,500
D) $50,000
C) $37,500
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Fill in the blanks with correct word
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