Four years ago, Amy Huang contributed four acres of undeveloped land to Richter Company in exchange for a 12 percent equity interest in Richter. Amy’s tax basis in the land was $275,000, and the land’s appraised FMV on date of contribution was $430,000. The exchange of land for equity was nontaxable to both Amy and Richter. Since the exchange, Richter has held the land as a long-term investment. This year, Richter sold the land to an unrelated purchaser for $550,000. How much capital gain does Richter recognize on the sale? How much of this gain is allocated to Amy if Richter is an LLC? How much gain is allocated to Amy if Richter is an S corporation?