net income
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Free InquiryLake Trust, a simple trust, reported the following items of income and expense during the year:
Dividend income $2,500
Taxable interest income 2,000
Capital gains (allocable to corpus) 5,000
Accounting fees (allocable to income) (500)
Trustee fees (allocable to income) (750)
What is Lake’s distributable net income?
A.$9,500
B.$8,250
C.$5,000
D.$3,250
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