Pink Corporation acquired land and securities in a $ 351 tax-free exchange. On the date of the transfer, the land had a basis of $720,000 and a fair market value of $630,000, and the securities had a basis of $110,000 and a fair market value of $250,000, Pink Corporation has two shareholders, Maria and Paul, unrelated individuals. Maria owns 85% of the stock in Pink Corporation, and Paul owns 15%. The corporation adopts a plan of liquidation in the current year. On the date of the liquidation, the land's fair market value has decreased to $500,000. What is the effect of each of the following on Pink Corporation? If an amount is zero, enter "0". a. If Pink Corporation distributes all the land to Maria, the corporation has a realized will be recognized of which b. Assume there is no business reason for the transfer of the property. If all the land is distributed to Paul, then the property had a Therefore, Pink Corporation will recognize a of which is C. Assume there is no business reason for the transfer of the property. If the land is distributed 85% to Maria and 15% to Paul, Pink Corporation has a disallowed loss of $ due to the distribution of disqualified property. In addition, disallowed due to the built-in loss rules. As a result, only of the loss will be recognized is d. Assume there is no business reason for the transfer of the property, If the land is distributed 50% to Maria and 50% to Paul, the loss on the distribution to Maria, is of the loss on the distribution to Paul will be disallowed. e. If the land is sold and the proceeds of $500,000 are distributed proportionately to Maria and to Paul but Pink Corporation cannot show a business purpose for the transfer, the of will be disallowed f. Indicate which one of the following options should be selected to achieve the best tax consequence for Pink. Select "Yes" or "No", whichever is applicable. a. Distribute all the land to Maria. b. Distribute 85% of the land to Maria and 15% to Paul. c. Distribute 50% of the land to Maria and 50% to Paul. d. Distribute all the land to Paul, or sell the land and distribute the proceeds of $500,000 proportionately