9 Check my work mode: This shows what is correct or incorrect for the work you have completed so far. Part 2 of 5 2 points Required information Problem 18-45 (LO 18-2) (Static) [The following information applies to the questions displayed below.] Volunteer Corporation reported taxable income of $500,000 from operations this year. The company paid federal income taxes of $105,000 on this taxable income. 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. The company had accumulated E&P of $750,000 at the beginning of the year. Problem 18-45 Part b (Static) b. Compute Volunteer's current E&P. Answer is complete but not entirely correct. Current E&P S 428,000X