Dried Fruit Corp. has had a valid S Corp election in effect at all times since its incorporation. The Dried Fruit Corp. stock is owned one-third by Raisin and two- thirds by Prune. All shareholders are US resident citizen individuals. At the beginning of the current year, Raisint basis in his shares was $48,000 and Prune's basis in her shares was $16,000. During the current year, Dried Fruit Corp. earned $288,000 of net income from operations. Raisin's share was $96,000; Prune's share was $192,000. On December 31st, Dried Fruit Corp. distributed Grapeacre (real property) having a fair market value of $96,000, and a basis of $64,000, to Raisin and Plumacre (real property) having a fair market value of $192,000 and a basis of $176,000, to Prune. How much gain does Raisin recognize as a result of this transaction? O $16,000 $48.000 $32,000 O $0