Vanessa is the sole shareholder of V Corporation. V Corporation was formerly a C corporation but is currently an S corporation. At the end of 2019, before considering distributions, V Corporation's accumulated adjustments account (AAA) balance was $40,000 and its accumulated earnings and profits from its years as a C corporation was $30,000. On July 1, V Corporation distributed $50,000 to Vanessa. a. What is the amount and character of income Vanessa must recognize on the distribution if her stock basis before considering the distribution was $60,000? b. What is Vanessa's stock basis after accounting for the distribution