Dove Corporation distributes all of its property in a complete liquidation. Alexandra (a 35% shareholder) receives a parcel of land having a fair market value of $100,000, in exchange for all her stock (basis $20,000, owned 3 years). The land (basis $125,000) has been used as a parking lot at Dove Corporations headquarters for the past 3 years. The land is also subject to a $25,000 liability which Alexandra assumes. What is the amount and character of the gain or loss recognized by Alexandra?

	A.	$80,000 LTCG.
	B.	$55,000 1231 gain.
	C.	$55,000 LTCG.
	D.	$80,000 1231 gain.