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Jefferson Millinery Incorporated (JMI) decided to liquidate its wholly owned subsidiary, 8 Miles High Incorporated (8MH). 8MH had the following tax accounting balance sheet: (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)

FMVAdjusted Tax BasisAppreciationCash$ 285,000$ 285,000 Building83,75028,00055,750Land201,250122,50078,750Total$ 570,000$ 435,500$ 134,500

a. What amount of gain or loss does 8MH recognize in the complete liquidation?