Special Motors Inc. has E\&P of \(\$ 53,000\). It distributes a building to the individual sole shareholder. The building has a basis of \(\$ 17,000\) and a value of \(\$ 54,000\), is subject to a mortgage of \(\$ 31,000\), and has \(\$ 6,000\) of depreciation recapture potential.

a. What is the character and amount of any gain or loss recognized by Special Motors?

b. What is the amount of the dividend?

c. What is E\&P after the distribution?

d. What is the shareholder's basis in the building?