Required information [The following information applies to the questions displayed below.] Alabama Corporation, an S corporation, liquidates this year by distributing a parcel of land to its sole shareholder, Mark Ingram. The fair market value of the parcel is $55,100, and its tax basis is $33,600. Mark's basis in his stock is $27,700. a. What amount of gain or loss, if any, does Alabama Corporation recognize on the distribution?