Parrnell Corporation owns 25% of Cross Corporation\'s stock. On May 1, Cross Corporation, with current E & P of $75,000, distributes land (fair market value of $235,000; basis of $200,000) to Parrnell . The land is subject to a liability of $150,000, which Parrnell assumes.

a. Parrnell Corporation has dividend income of ?

b. Dividends received deduction of ?