last year crow corp acquired land in a transaction that qualified under 351. the land had a basis of $ 400,000 to the contributing shareholder and a FMV of $ 310,000. Assume that the shareholder also transferred equipment basis of $ 100,000 FMV of $ 200,000 in the same 351 exchange. in the current year crow corp adopted a plan of liquidation and distributes the land to ali a shareholder who owns 20% of the stock in crow corp. The lands FMV was $ 230,000 on the date of distribution nto ali. crow corp acquired the land to use as security for a loan it had hoped to obtain from a local bank in negotiating with the bank for a loan, the bank required the additional capital investment as its condition of making a loan to crow corp. how much loss can crow corp recognize on the distribution

a) $ 0

b) $ 80,000

c) $ 90,000

d) $ 170,000

e) none of the above