Volunteer Corporation reported taxable income of $$500,000$ from operations this year. During the year, the company made a distribution of land to its sole shareholder, Rocky. The land's fair market value was $$75,000$ and its tax and E&P basis to Volunteer was $$25,000.$ Rocky assumed a mortgage attached to the land of $$15,000.$ The company had accumulated E&P of $$750,000$ at the beginning of the year.

a$.$ Compute Volunteer's taxable income and federal income tax. b$.$ Compute Volunteer's current E&P$.$ c$.$ Compute Volunteer's accumulated E&P at the beginning of next year. d$.$ What amount of dividend income does Rocky report because of the distribution? e$.$ What is Rocky's income tax basis in the land received from Volunteer?