In March of Year 2, Mason contributed the following two properties, which he acquired in February of Year 1, to Boston Corporation in exchange for additional Boston stock: (1) land having a $45,000 FMV and a $78,000 basis and (2) another property having an $81,000 FMV and a $77,000 adjusted basis. Boston' employees use the land as a parking lot until Boston sells it in March of Year 3 for $43,000. One month after the sale, in April of Year 3, Boston adopts a plan of liquidation. (Assume that the properties were contributed to Boston in a Sec. 351 transaction. Assume that the second property contributed by Mason was not land.) Read the requirements. (Enter all amounts, even losses, as a positive number.) Requirement b. What is Boston' recognized gain or loss on the subsequent land sale? Boston recognizes a gain/loss on the subsequent sale of land