Peters Corporation acquired Land in a Section 351 Transfer in 2018. The Land had an Adjusted Basis of $550,000 and a Fair Market Value of $500,000 on the date of the transfer. Peters Corporation has two (2) shareholders, Fortune and Lawson, who are not related to each other. Fortune owns sixty percent (60%) of the stock of Peters Corporation and Lawson owns forty percent (40%) of the stock of Peters Corporation. Peters Corporation adopts a plan of Complete Liquidation in 2020. At the time of the distribution of the Land pursuant to the liquidation plan, the Land had decreased in value (Fair Market Value) to $400,000. Peters Corporation distributes the land to Lawson. What amount of the Loss may Peters Corporation recognize on the distribution of the Land to Lawson? $100,000. $ -0- $ 50,000. $150,000.