Oceans Corporation acquired land in a 351 exchange one year ago. The land had a basis of $320,000 and a fair market value of $350,000 on the date of the transfer. Oceans Corporation has two shareholders, Matt Damon (70%) and Julie Roberts (30%), who are brother and sister. Oceans Corporation adopts a plan of liquidation in the current year. On this date, the land has decreased in value to $250,000. Oceans Corporation sells the land for $250,000 and distributes the proceeds pro rata to Matt and Julia. What amount of loss may Oceans Corporation recognize on the sale of the land?

	a.	$0
	b.	$21,000
	c.	$30,000
	d.	$70,000