Question $3(10$ points$)$ On October $21,2024,$ Small Corp. distributes land to Mary Jones, one of its shareholders. The land had a fair market value of $\backslash (\backslash$$ $72,000\backslash ).$ The land had an adjusted basis in Small's hands of $\backslash (\backslash$$ $83,000\backslash ).$ Small Corp. had predistribution current earnings and profits of $\backslash (\backslash$$ $64,000\backslash )$ for the year ending December $31,2024.$ It had no accumulated earnings and profits. Jones' adjusted basis in her stock was equal to $\backslash (\backslash$$ $7,000\backslash ).$ a$)$ What is the amount of the distribution received by to Jones? b$)$ Does Small Corp have to recognize a gain or loss on the distribution of the land to Jones and if so$,$ what is the amount of the gain or loss? c$)$ What is the basis of the land in Jones' hands? d$)$ What is the character of the distribution received by Jones? e$)$ What is the balance of Small's earnings and profits after the distribution of the land to Jones?