CH 19 HW Book Print in Problem 19-34 (LO. 1, 2, 3) On September 30, Silver Corporation, a calendar year taxpayer, sold a parcel of land (basis of $400,000) for a $1,000,000 note. The note is payable in five installments, with the first payment due next year. Because Silver did not alect out of the installment method, none of the $600,000 ganistaxed this year Silver Corporation had a $300,000 deficit in courtulated & P at the beginning of year. Before considering the effect of the land sale, Silver had a delict in current E & P of $50,000. Baviera, the sole shareholder of Silver, has a basis of $200,000 in her stock. Javiera holds the Silver Corporation stock as an investment. If Silver distributes $900,000 to Javiera on December 31, how much Income must she report for tax purposes? If an amount is zero, enter"0", taxable dividend and 1. After the distribution, Wavera's stock Javiera reports a as basis is 11 12 13 14. 15 Check My Work