Green Co. owns 15% of the stock of Blue Co. Blue Co. with E&P of $80,000 on Dec. 20, 20X8 distributes land with a FMV of $30,000 and a basis of $60,000 to Green Co. The land is subject to a liability of $20,000 which Green Co. assumes. Assume Green Co. has 100,000 of other income. What is Green Co's taxable income?