Heaven Corporation was a wholly-owned subsidiary of Text Corporation. Both corporations were domestic C corporations. Text received a liquidating distribution of property in cancellation of its Heaven stock when Texts tax basis in Heaven stock was $200,000. The distributed property had an adjusted basis of $125,000 and a fair market value of $300,000. Assuming no special elections, what amount of taxable gain did Heaven, the subsidiary corporation, recognize on the distribution of the property?