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From regular business operations (and without considering any distributions) Mega Corp., a C corporation, would...

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Accounting

From regular business operations (and without considering any distributions) Mega Corp., a C corporation, would have $20M of current earnings and profits ("E&P") for calendar year 2020. Prior to year-end 2020, Mega Corp. distributes a parcel of real estate with a basis equal to $2M, and a fair market value of $6M to its sole shareholder. Mega Corp. made no other distributions during 2020. At the end of 2020 Mega Corp.'s final current E&P balance will equal:

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