Question 8 (2 points) X Corporation has book income before taxes of $600,000 and you are provided with the following information for the year: Included dividends from a 20% owned Sub $100,000 Tax Exempt Municipal Interest $160,000 Depreciation: Per Books $100,000 Tax $200,000 Compute Taxable income for the year. Question 10 (2 points) Z corporation's calendar year taxable income is $2,000,000. The corporation's 2020 federal income tax liability before any credits is: Question 17 (2 points) During 2020, Sand and Gravel Corporation (SGC) distributed a parcel of land to its sole shareholder, T. The land has a FMV of $20,000 and a basis to the corporation of $4,000. Accumulated E&P of the corporation is $12,000. Taxable income before the distribution was -O-. What effect will the distribution have on the shareholder T's taxable income? Question 18 (2 points) During 2020, Sand and Gravel Corporation (SGC) distributed a parcel of land to its sole shareholder, T: The land has a FMV of $20,000 and a basis to the corporation of $4,000. Accumulated E&P of the corporation is $12,000. Taxable income before the distribution was -O-. What is T's basis in the land