X Corporation has two shareholders, Adam and Bonnie. $$Adam owns $50\%$ of the stock of X and has a basis of $$40$ in his shares. $$Bonnie owns the other $50\%$ of the stock and has a basis of $$100$ in her shares. $$X has current year E&P of $$94,$ before consideration of the following event. $$X has no accumulated E&P$.$Use a corporate tax rate of $21\%.$

X distributes a group of AT&T shares to the two shareholders. $$It has owned the AT&T stock for several years. $$The FMV of the stock is $$200$ and the basis is $$100.$

Calculate X$\text{'}$s E&P after the distribution;

Calculate the amount of the dividend, return of basis, and capital gain to each of Adam and Bonnie. $$

Indicate the basis in the AT&T shares received by the shareholders.