The stock in Clinton Corporation is held equally by two brothers. Four years ago, the shareholders transfer property (basis of $200,000, fair market value of $220,000) to Clinton Corporation as a contribution to capital. In the current year and pursuant to a complete liquidation of Clinton, the property is distributed proportionately to the brothers. At the time of the distribution, the property had a fair market value of $40,000. What amount of loss will Clinton Corporation recognize on the distribution of the property? (Format your answer to include dollar signs and commas - do not include decimals. Example $9,999,999)