At the beginning of the year, Myrna Corporation (a calendar year taxpayer) has E & P of $32,000. The corporation generates no additional E & P during the year. On December 31, the corporation distributes $50,000 to its sole shareholder, Emerson, whose stock basis is $10,000.

As a result the distribution Emerson has dividend income of $___________and a taxable capital gain of $___________. Emerson's stock basis is $ 0after the distribution.