Osprey Corporation stock is owned by Pedro and Pittro, who are unrelated. Pedro and Pittro each own 50% of the stock in the corporation. Osprey has the following assets (none of which were acquired in a 351 or contribution to capital transaction) that are distributed in complete liquidation of the corporation. Fair Market Value Adjusted Basis Cash $624,200 $624,200 Land Equipment 374,520 499,360 936,300 312,100 Assume that Osprey Corporation distributes the land to Pedro and the cash and equipment to Pittro. a. Determine Osprey's recognized gain or loss on the distribution of land. Osprey recognizes a gain of $ on the distribution of the land. b. Determine Osprey's recognized gain or loss on the distribution of the equipment. Osprey realizes a loss of $ on the equipment, of which $ is recognized