What I have for Total taxable income is correct - what I have for Federal Income Tax is INCORRECT........

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 Topp. 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. Any gain from the distribution will be taxed at 21 percent. The company had accumulated E&P of $750,000 at the beginning of the year. a. Compute Volunteer's total taxable income and federal income tax. Total taxable income Federal income tax $ $ 550,000 187,000 b. Compute Volunteer's current E&P. Current E&P c. Compute Volunteer's accumulated E&P at the beginning of next year. Accumulated E&P at the beginning of next year d. What amount of dividend income does Rocky report as a result of the distribution? Dividend income