Problem 20-28 (10.1, 4) Last year 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 $1,000,000 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, who are unrelated. Maria owns 85% of the stock in the corporation, and Paul owns 15%. Pink adopts a plan of liquidation in the current year. On this date the value of the land has decreased to $500,000. What is the effect of each of the following on Pink Corporation? If an amount is zero, enter "o". a. If Pink Corporation distributes all the land to Maria, the corporation has a realized loss of 220,000 will be recognized of which of which b. If all the land is distributed to Paul, Pink Corporation will have a realized loss of recognized 11 of the land is distributed to Maria and 159 to Paul: On the distribution to Maria, Pink Corporation has a s 187,000 is recognized realized loss on the distribution of which s On the distribution to Paul, Pink Corporation has as recognized realized loss on the distribution of which is d. 150% of the land is distributed to Maria and 50% to Paul, Pink Corporation has a 110,000 is disallowed realized loss of which e. If the land is sold and the proceeds of $500,000 are distributed proportionately to Maria and to Paul, Pink Corporation would recognita loss ot