*tax question*

X Corporation was formed in Year 1. In Year 1, X Corporation: (i) received $100,000 of revenue, (ii) a $20,000 dividend distribution from Y Corporation (X owned less than 1% of Y and received a $10,000 DRD) (iii) purchased a Section 179 asset for $10,000, (iv) paid $21,000 of federal tax and (v) distributed $10,000 cash to each of its two shareholders A and B.

In Year 2, X received $50,000 of revenue and contributed $12,000 to cash to a qualified charity. X made no distributions in Year 2.

a. What is X' Accumulated E&P at the beginning of Year 2?

b. What is X' Accumulated E&P at the beginning of Year 3?