Lanco Corporation, an accrual$-$method corporation, reported taxable income of $$1,530,000$ this year. Included in the computation of taxable income were the following items:

MACRS depreciation of $$230,500.$ Depreciation for earnings and profits purposes is $$128,000.$

A net capital loss carryover of $$20,500$ from last year.

A net operating loss carryover of $$27,000$ from last year.

$$63,850$ capital gain from the distribution of land to the company$$s sole shareholder $($see below$).$

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

Tax$-$exempt income of $$6,700.$

Life insurance proceeds of $$276,000.$

Excess current$-$year charitable contribution of $$2,400($to be carried over to next year$).$

Tax$-$deferred gain of $$23,300$ on a like$-$kind exchange.

Nondeductible life insurance premium of $$3,900.$

Nondeductible interest expense of $$2,700$ on a loan used to buy tax$-$exempt bonds.

Lanco's accumulated E&P at the beginning of the year was $$3,090,000.$ During the year, Lanco made the following distributions to its sole shareholder, Luigi:

June $30$: $$86,000.$

September $30$: Parcel of land with a fair market value of $$78,750.$ Lanco$$s adjusted tax basis in the land was $$14,900.$ Luigi assumed an existing mortgage on the property of $$23,400.$

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.