Lanco Corporation, an accrual$-$method corporation, reported taxable income of $$1,620,000$ this year. Included in the computation of taxable income were the following items:

MACRS depreciation of $$265,500.$ Depreciation for earnings and profits purposes is $$183,000.$

A net capital loss carryover of $$15,800$ from last year.

A net operating loss carryover of $$27,500$ from last year.

$$87,950$ capital gain from the distribution of land to the company$$s sole shareholder $($see below$).$

Not included in the computation of taxable income were the following items:

Tax$-$exempt income of $$8,950.$

Life insurance proceeds of $$265,000.$

Excess current$-$year charitable contribution of $$4,600($to be carried over to next year$).$

Tax$-$deferred gain of $$22,400$ on a like$-$kind exchange.

Nondeductible life insurance premium of $$4,900.$

Nondeductible interest expense of $$1,200$ on a loan used to buy tax$-$exempt bonds.

Lanco's accumulated E&P at the beginning of the year was $$2,910,000.$ During the year, Lanco made the following distributions to its sole shareholder, Luigi:

June $30$: $$50,500.$

September $30$: Parcel of land with a fair market value of $$99,750.$ Lanco$$s adjusted tax basis in the land was $$11,800.$ Luigi assumed an existing mortgage on the property of $$20,600.$

Required:

Compute Lanco$$s current E&P$.$

Compute the amount of dividend income reported by Luigi this year because of the distributions.

Compute Lanco$$s accumulated E&P at the beginning of next year.