Denver Corporation, an S corporation, has no corporate E&P from its years as a C corporation. At the end of the year, it distributes a small parcel of land to its sole shareholder, Candice. The fair market value of the parcel is $86,800 and its tax basis is $52,000. Candice's basis in her stock is $20,000. Assume Denver Corporation reported $0 taxable income before considering the tax consequences of the distribution. How much gain must Candice recognize (if any) as a result of the distribution? A