Lanco Corporation, an accrual$-$method corporation, reported taxable income of $$2,350,000$ this year. Included in the computation of

taxable income were the following items:

MACRS depreciation of $$272,500.$ Depreciation for earnings and profits purposes is $$171,000.$

A net capital loss carryover of $$13,400$ from last year.

A net operating loss carryover of $$26,000$ from last year.

$$64,550$ 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 $$8,500.$

Life insurance proceeds of $$320,000.$

Excess current$-$year charitable contribution of $$3,700($to be carried over to next year$).$

Tax$-$deferred gain of $$29,100$ on a like$-$kind exchange.

Nondeductible life insurance premium of $$4,800.$

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 $$3,010,000.$ During the year, Lanco made the following distributions to its

sole shareholder, Luigi:

June $30$: $$58,500.$

September $30$: Parcel of land with a fair market value of $$78,250.$ Lanco's adjusted tax basis in the land was $$13,700.$ Luigi

assumed an existing mortgage on the property of $$17,000.$

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.

Answer is not complete.