QUESTION 11 (CHAPTER 20) Pittsburgh Corporation has three shareholders: Jim, Connor, and Nick. Jim, Connor and Nick are not related to each other. Jim owns 70% of Pittsburgh Corporation, Connor owns 20% and Nick owns 10%. Pittsburgh Corporation distributes an apartment building (FMV $4,200,000,AB$5,160,000 ) in liquidation. The building was originally contributed by Jim one year ago in a $351 when the FMV was $6,000,000 and the AB was $5,700,000. (a) How much loss will the corporation recognize if it distributes the building 50% to Connor and 50% to Nick? (b) How much loss will the corporation recognize if it distributes the building to Jim alone? (c) How much loss will the corporation recognize if it distributes the building 80% to Jim, 10% to Connor and 10% to Nick