Ayanna Corporation is owned eighty percent (80%) by Kendra and twenty percent (20%) by Barbara who are unrelated to each other. Pursuant to a Complete Liquidation, Ayanna Corporation distributed Land that had a Fair Market Value on the date of distribution of 5100,000 and a basis to Ayanna Corporation of $300,000. The Land was acquired by Ayanna Corporation in a Section 351 transfer two (2) years ago from Barbara When its Fair Market Value was $200,000. (Assume that there was no business purpose for the transfer). What is the Recognized Loss for Ayanna Corporation if the Land is sold to an unrelated third party for $100,000 (instead of distributed to either shareholder) and the $100,000. proceeds of the sale are distributed proportionately (pro-rata) to Kendra and Barbara (ie, eighty percent (80\%) to Kendra and twenty percent (20%) to Barbara)? $100,000 520,000 \$ =0= \$ 40,000