Tar heel corporation had current and accumulated e& p of $500,000 at december 31 20x3. on december 31, the company made a distribution of land to its sole shareholder, william roy. the land's fair market value was $100,000 and its tax and e& p basis to tar heel was $25,000. william assumed a mortgage attached to the land of $10,000. the tax consequences of the distribution to william in 20x3 would be: a. $100,000 dividend and a tax basis in the land of $100,000b. $100,000 dividend and a tax basis in the land of $90,000c. dividend of $90,000 and a tax basis in the land of $100,000d. dividend of $90,000 and a tax basis in the land of $90,000