Required information Problem 07-40 (LO 07-2) (Algo) [The following information applies to the questions displayed below.] Lone Star Company is a calendar-year corporation, and this year Lone Star reported $128,000 in current E\&P that accrued evenly throughout the year. At the beginning of the year, Lone Star's accumulated E\&P was \$15,360. Lone Star declared $38,400 in cash distributions on each of the following dates: April 1, July 1, October 1, and December 31. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. roblem 07-40 Part c (Algo) If Matt's basis in the Lone Star shares was $8,960 at the beginning of the year, how much capital gain will he recognize on the sale Id distributions from Lone Star