Problem $18-45($LO $18-2)($Static$)$ Skip to question $[$The following information applies to the questions displayed below.$]$ Volunteer Corporation reported taxable income of $$500,000$ from operations this year. During the year, the company made a distribution of land to its sole shareholder, Rocky. The land's fair market value was $$75,000$ and its tax and E&P basis to Volunteer was $$25,000.$ Rocky assumed a mortgage attached to the land of $$15,000.$ The company had accumulated E&P of $$750,000$ at the beginning of the year. Problem $18-45$ Part b $($Static$)$ b$.$ Compute Volunteer's current E&P$.$