Brown Co. has 100 shares of common stock outstanding owned as follows: Ann 50 shares, Bonnie (an unrelated party) 50 shares. Ann and Bonnie each paid $1,000 per share for Brown Corp stock 10 years ago. Brown Co. has $100,000 Accumulated E&P and $20,000 Current E&P. Brown Co. distributes land held as an investment (fair market value of $80,000, adjusted basis of $30,000) to Ann in redemption of her 25 shares. Identify all the tax consequences to Ann.