Lion, Inc. reported taxable income of $530,000 for its most recent current year end. Not included in the company's computation of taxable income were: tax-exempt interest of $17,000 and disallowed expenses of $21,000. Lion deducted depreciation of $137,000 on its tax return. Under the alternative (E&P) depreciation method, the deduction would have been $87,000. Lion paid out dividends to its 4 equal shareholders of $20,000 each on December 1, 2021. Lion has been incorporated for a number of years and has accumulated earnings and profits of $1,870,000 as computed at the beginning of the current year. a. Compute the company's current E&P for the year ended December 31, 2021. b. Compute the company's accumulated E&P for January 1, 2022.