Puffin Corporation makes a property distribution to its sole shareholder, Bonnie. The property distributed is a building (basis of $30,000, fair market value of $200,000) that is subject to a $16,000 liability which Bonnie assumes. Puffin has no accumulated E&P and $30,000 of current E&P from other sources during the year. What is Puffin's E&P after taking into account the distribution of the car

Question 4 options:

	$0
	$6,000
	$10,000
	$16,000
	None of the above.