Problem 20-28 (Algorithmic) (L0,1 ) The stock of Mulbery Corporation is owned by Archana (60\%) and Anar (40\%), who are mother and daughter. Pursuant to a plan of complete liquidation adopted earlier in the current year, Mulberry distributes fand worth $824,000 to Anar (basis of $131,840 in Mulberry stock). The land was purchased by Mulberry Corporation three years ago for $1,071,200, and it is distributed subject to a liability of $659,200. What amount of gain or loss is recognized by Mulberry Corporation and by Anar with respect to the distribution of the land? Mulberry Corporation has a $ nonrecoqnized on the distribution of the land. Anar recognizes a of 5 on the liquidating distribution, and has a basis in the land of $