Required information (The following information applies to the questions displayed below.) Volunteer Corporation reported taxable income of $515,000 from operations this year. The company paid federal income taxes of $108,150 on this taxable income. During the year, the company made a distribution of land to its sole shareholder, Rocky Topp. The land's fair market value was $75,500 and its tax and E&P basis to Volunteer was $45,500. Rocky assumed a mortgage attached to the land of $15,100. The company had accumulated E&P of $908,000 at the beginning of the year. a. Compute Volunteer's total taxable income and federal income tax paid as a result of the distribution b. Compute Volunteer's current E&P for 2010. C. Compute Volunteer's accumulated E&P at the beginning of 2011. d. What amount of dividend income does Rocky report as a result of the distribution? e. What is Rocky's income tax basis in the land received from Volunteer