Tiger Corporation reported taxable income of $500,000 from operations this year. The company paid federal income taxes of $210,000 on this taxable income. During the year, the company made a distribution of land to its sole shareholder, Mike Fairway. The land's fair market value was $75,000, and its tax and E&P basis to Tiger was $125,000. Mike 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. c. Compute Tiger's accumulated E&P at the beginning of next year. Accumulated E&P at the beginning of next year

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