Spartan Corporation redeemed 25 percent of its shares for $3,000 on July 1 of this year, in a transaction that qualified as an exchange under IRC 302(a). Spartan's accumulated E&P at the beginning of the year was $3,000. Its current E&P is $17,900. Spartan made dividend distributions of $2,700 on June 1 and $5,700 on August 31. Determine the beginning balance in Spartan's accumulated E&P at the beginning of the next year. See Rev. Ruls. 74-338 and 74-339 for help in making this calculation.(Round your intermediate calculationsto the nearest wholedollar amount.)

Spartan Corporation redeemed 25 percent of its shares for $3,000 on July 1 of this year, in a transaction that qualified as an exchange under IRC 302(a). Spartan's accumulated E&P at the beginning of the year was $3,000. Its current E&P is $17,900. Spartan made dividend distributions of $2,700 on June 1 and $5,700 on August 31. Determine the beginning balance in Spartan's accumulated E&P at the beginning of the next year. See Rev. Ruls. 74-338 and 74-339 for help in making this calculation.(Round your intermediate calculationsto the nearest wholedollar amount.)

Spartan Corporation redeemed 25 percent of its shares for $3,000 on July 1 of this year, in a transaction that qualified as an exchange under IRC 302(a). Spartan's accumulated E&P at the beginning of the year was $3,000. Its current E&P is $17,900. Spartan made dividend distributions of $2,700 on June 1 and $5,700 on August 31. Determine the beginning balance in Spartan's accumulated E&P at the beginning of the next year. See Rev. Ruls. 74-338 and 74-339 for help in making this calculation.(Round your intermediate calculationsto the nearest wholedollar amount.)

ACCUMULATED E&P AT THE BEGGINING OF THE NEXT YEAR =