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Bill incorporated his business four years ago and owns 100 percent of its stock. The corporation distributes a piece of land, used as a parking

Bill incorporated his business four years ago and owns 100 percent of its stock. The corporation distributes a piece of land, used as a parking lot for the customers, to Bill. Bills basis in his stock is $24200, the land has a basis of $6300 and a value of $29040, and E&P is $5800. What is the amount of the dividend distribution?

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