Pursuant to a complete liquidation, Carrot Corporation distributes to its shareholders real estate held as an investment (basis of $1,321,600, fair market value of $1,718,080 ). a. Determine the gain or loss recognized by Carrot on the distribution if no liability is involved. If no liability is involved, Carrot has a recognized of $ on the distribution. b. Determine the gain or loss recognized by Carrot on the distribution if the real estate is subject to a liability of $1,453,760. If the real estate is subject to a liability of $1,453,760, Carrot has a recognized of $ c. Determine the gain or loss recognized by Carrot on the distribution if the real estate is subject to a liability of $1,850,240. If the liability were $1,850,240, Carrot's recognized on the distribution would be $