Lanco Corporation, an accrual$-$method corporation, reported taxable income of $$2,230,000$ this year and paid Federal income tax of $$468,300.$ Included in the computation of taxable income were the following items:

MACRS depreciation of $$289,500.$ Depreciation for earnings and profits purposes is $$198,000.$

A net capital loss carryover of $$16,100$ from last year.

A net operating loss carryover of $$32,500$ from last year.

$$75,000$ 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 $$7,500.$

Life insurance proceeds of $$330,000.$

Excess current$-$year charitable contribution of $$2,700($to be carried over to next year$).$

Tax$-$deferred gain of $$20,300$ on a like$-$kind exchange.

Nondeductible life insurance premium of $$4,500.$

Nondeductible interest expense of $$3,600$ on a loan used to buy tax$-$exempt bonds.

Lanco's accumulated E&P at the beginning of the year was $$2,840,000.$ During the year, Lanco made the following distributions to its sole shareholder, Luigi:

June $30$: $$65,000.$

September $30$: Parcel of land with a fair market value of $$88,500.$ Lanco's adjusted tax basis in the land was $$13,500.$ Luigi assumed an existing mortgage on the property of $$16,800.$

Required:

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

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

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