Probleat 6-55 (Algerithmic) (20,4) The stock of Muibemy Corperabion in owned by Archenn (60w) and Anar (40 s), ano are mother and daughter, Pursuant to a plan of complete liquidation adopted eorlier in the curtent vear, Mulberry diatributw lind worth 1632,000 to Arar (basia of s101,120 in Mulberty stock). The land was purchased by Mulbery Corporation three yearn ago for 5021,600 , and it ia dottributed subject ta a listrilfy af $505,600, What amieunt of goin or loss is recegnized by Muberry Corporation and by Anar with reapect to the dotribution of the land? Mulberty Cerperation has a 1 on the Gistribution of the land Anbc recognizes a of s on the llquidating distribution, and kas a basis in the land of 1