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, Raisin's basis in his shares was $114,000 and Prune's basis in her shares was $38,000. During the current year, Dried Fruit Corp. earned $684,000 of net income from operations. Raisin's share was $228,000; Prune's share was $456,000. On December 31st, Dried Fruit Corp. distributed Grapeacre (real property) having a fair market value of $228,000, and a basis of $152,000, to Raisin and Plumacre (real property) having a fair market value of $456,000 and a basis of $418,000, to Prune. How much gain does Prune recognize as a result of this transaction? $0 $76,000 $114,000 $38,000