H Corp. distributed land with a fair market value of $100,000 (basis $20,000) to Tina, a 70% shareholder. Determine the amount of the dividend and basis of the land to Tina if E&P is $80,000.

A.) Dividend:$80,000; Basis in the land:$100,000

B.) Dividend:$80,000; Basis in the land:$80,000

C.) Dividend:$100,000; Basis in the land:$100,000

D.) Dividend:$100,000; Basis in the land:$20,000