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Lanco Corporation, an accrual-method corporation, reported taxable income of $2,280,000 this year. Included in the comp taxable income were the following items. . . MACRS depreciation of $229,500. Straight-line depreciation would have been $144,000. A net capital loss carryover of $22,700 from last year. A net operating loss carryover of $24,000 from last year. $78,150 capital gain from the distribution of land to the company's sole shareholder (see below) Not included in the computation of taxable income were the following items: . . - . Tax-exempt income of $6,900. Life insurance proceeds of $329.000 Excess current-year charitable contribution of $4,200 (to be carried over to next year), Tax-deferred gain of $29.800 on a like kind exchange. Federal income tax refund from last year of $41,500 Nondeductible life insurance premium of $3,200. Nondeductible interest expense of $3,300 on a loan used to buy tax-exempt bonds Lanco's accumulated E&P at the beginning of the year was $3,350.000. During the year, Larico made the following distribution sole shareholder. Luigi (Lug) Nutt: . June 30: $69,500 September 30 Parcel of land with a fair market value of $97750. Lanco's tax basis in the land was $19,600. Lug assumed an existing mortgage on the property of $17,200 Required: a. Compute Lanco's current E&P b. Compute the amount of dividend income reported by Lug Nutt this year as a result of the distributions C. Compute Lanco's accumulated E&P at the beginning of next year Current ERP Dividend income Accumulated E&P beginning of next year

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