Hello, I need help solving this accounting problem.

received land with a fair market value of $445,000. Packard's basis in the State stock was $677,500. The land had a basis to State Company of q Packard Corporation transferred its 100 percent interest to State Company as part of a complete liquidation of the company. In the exchange, Packard $625,000. What amount of loss does State recognize in the exchange and what is Packard's basis in the land it receives? Multiple Choice 0 $180,000 loss recognized by State and a basis in the land of $445,000 to Packard. 0 $180,000 loss recognized by State and a basis in the land of $625,000 to Packard. O No loss recognized by State and a basis in the land of $445,000 to Packard. O No loss recognized by State and a basis in the land of $625,000 to Packard