Lanco Corporation, an accrual$-$method corporation, reported taxable income of $$1,500,000$ this year. Included in the computation of

taxable income were the following items:

MACRS depreciation of $$253,500.$ Depreciation for earnings and profits purposes is $$143,000.$

A net capital loss carryover of $$20,600$ from last year.

A net operating loss carryover of $$33,100$ from last year.

$$84,400$ 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 $$6,400.$

Life insurance proceeds of $$337,000.$

Excess current$-$year charitable contribution of $$5,100($to be carried over to next year$).$

Tax$-$deferred gain of $$21,900$ on a like$-$kind exchange.

Nondeductible life insurance premium of $$3,600.$

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 $$3,160,000.$ During the year, Lanco made the following distributions to its

sole shareholder, Luigi:

June $30$: $$86,500.$

September $30$: Parcel of land with a fair market value of $$96,000.$ Lanco's adjusted tax basis in the land was $$11,600.$ Luigi

assumed an existing mortgage on the property of $$20,800.$

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.