7. Igor Corporation owns 10% of David Corporation. David Corporation has ample E\&P to cover any distributions made during the year. One distribution made to Igor Corporation consists of a vacant lot with an adjusted basis of $80,000 and FMV of $50,000. Determine (1) the amount of Igor Corporation's taxable dividend before the DRD and (2) its basis in the property. (20 Points)* $80,000 and $0,000 $50,000 and $30,000 $30,000 and $80,000 $50,000 and $50,000