Margaret is a 50% shareholder in Stevens Bicycle Corp (Scorp). Margaret has a stock basis of $30,000. During the year Stevens Bicycle Corp: a) had a business loss of $70,000 b) had a long term capital gain of $16,000. Margaret received a property (bike repair equipment) distribution, FMV $60,000 basis $30,000 during the year. 1. What is the taxable gain (before losses) for Margaret for the year? 2. What is Margaret's deductible loss for the year? 3. At the end of the year, what is her stock basis