Corporation Z distributes in kind its long held Apple stock with an adjusted basis of $480 and a fair market value of $200 to shareholder C. Corporation Z also distributes Apple stock with an adjusted basis of $120 at a fair market value of $200 to shareholder D. a. Corporation Z after the tax Reform Act of 1986 has no gain on the distributions b. The distributions have no effect on E&P c. Corporation Z realizes gain of $80 on the distribution of the property and that amount less accrued income tax is added to E&P d. None of the above PLEASE EXPLAIN