Ford Corporation acquired land in a 351 exchange one year ago. The land had a basis of $320,000 and a fair market value of $350,000 on the date of the transfer. Ford Corporation has two shareholders, Mark (70%) and Megan (30%), who are brother and sister. Ford Corporation adopts a plan of liquidation in the current year. On this date, the land has decreased in value to $250,000. Ford Corporation sells the land for $250,000 and distributes the proceeds pro rata to Mark and Megan. What amount of loss may Ford Corporation recognize on the sale of the land?