Sunset Corporation, with E & P of $185,800, makes a cash distribution of $55,740 to a shareholder. The shareholder's basis in the Sunset stock involved is $22,296.

a.Determine the tax consequences to the shareholder if the distribution is a nonqualified stock redemption.

The shareholder hasdividend incomeof $?

b.Determine the tax consequences to the shareholder if the distribution is a qualifying stock redemption.

The shareholder hasa capital gainof $?

c.Determine the tax consequences to the shareholder if the distribution is pursuant to a complete liquidation of Sunset.

The shareholder hasa capital gainof $?