individual Y owns 55% of Beta corporation . five years ago Y contributed property with an adjusted basis of $ 20000 and a fair market value of $ 8000 to Beta in a transaction qualifyingrnunder Sec. 351. In the current year, Beta adopted a plan of complete liquidation and distributed this same property to Y. At this time, the property had an adjusted basis of $18,000 and a fair market value of $5,000. How much loss will Beta recognize on the distribution? 

A). $0
B). $3,000
C). $12,000
D). $13,000