Required information [The following information applies to the questions displayed below) Volunteer Corporation reported taxable income of $400.000 from operations this year. During the year, the company made a distribution of land to its sole shareholder, Rocky Topp. The land's fair market value was $112.500 and its tax and E&P basis to Volunteer was $54,000. Rocky assumed a mortgage attached to the land of $22,500. The company had accumulated E&P of $926,000 at the beginning of the year a. Compute Volunteer's total taxable income and federal income tax Total taxable income Federal income tax b. Compute Volunteer's current E&P. Current E&P c. Compute Volunteer's accumulated E&P at the beginning of next year. Accumulated E&P at the beginning of next year