Dove Corporation (E & P of $80o,000) has 1,000 Julia's sister), 300 shares; and Janine (Qlula's deughter), 100 shares. Dove Corporation owns land (basis of $300,o00, fair market value of s260,000) that it purchased as an Investment seven years ago. Dove distributes the land to Julila in exchange for all of her shares in the corporation. Jula had a basis of $275,000 in the shares. What are the tax consequences for both Dove Corporation and Juia? a. If the distribution Is a qualifying stock redemption: Dove Corporation has a shares of stock outstanding. The shares are owned as follows: Julia, 600 shares; Maxine of Julia has of b. If the distribution is a liquidating distribution: Dove Corporation hasa- land is Yof Julia has a Her basis in the