Thriller Corporation has 1 class of voting common stock, of which 1,000 shares are issued and outstanding.The shares are owned as follows:

Joe Jackson 400

Mike Jackson (Joe's son) 200

Jane Jackson (Joe's daughter) 200

Vinnie Price (unrelated) 200

Total shares 1,000

Thriller Corporation has current E&P of $400,000 for this

year and accumulated E&P at January 1 of this year of $60,000. During this

year, the corporation made the following distributions to its shareholders:

03/31: Distributed $100 per share to each shareholder ($100,000 in total).

06/30: Distributed $100 per share to each shareholder ($100,000 in total).

09/30: Distributed $100 per share to each shareholder ($100,000 in total).

12/31: Redeemed all of Vinnie's shares for $250,000 in cash.

Compute the corporation's accumulated E&P at January 1 of next year.(Do not round intermediate calculations.) ???