Assume the following facts regarding Granite Corporation and Alex Baldwin, one of its shareholders:

$0	Granite Corporation's Accumulated E&P
$2,000,000	Granite Corporation's Current E&P
4,000	Total Granite Corporate Shares Outstanding
2,000	Shares owned by Alex Baldwin
$2,000,000	FMV of Alex Baldwin's 500 Shares
$400,000	Basis of Alex Baldwin's 500 Shares
800	Shares Redeemed by Alex Baldwin

Alex Baldwin redeems 800 of his 2,000 shares and received $800,000 in cash from the corporation.

How much gain (loss) will Granite Corporation recognize from distributing the cash? 

What is Granite Corporation's Ending Current E&P amount after the distribution?  

How much gain will Alex Baldwin recognize from the distribution? 

How much total basis does Alex Baldwin have in his remaining shares of stock?