Your client's son, James, who recently graduated from college, owns stock in the Ford Motor Company. Their basis in the stock is $100. Which of the following would not be included in James' income? a. Qualified dividends received from Ford Motor Company. b. A distribution by Ford Motor Company to its shareholders in excess of earnings and profits, of which James' share of the distribution is $50. c. Dividends paid by the Ford Motor Company of less than $10. d. Dividends paid by the Ford Motor Company, assuming (for a moment) that it is not a U.S. corporation. A B C D

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