The stock in Kroger Corporation is owned by Nellie Biles (80%) and Simone Biles (20%), mother and daughter. In a liquidation of the corporation in the current year, Kroger distributes land that it purchased two years ago for $675,000 to Simone. The property has a fair market value on the date of distribution of $450,000. One year later, Simone sells the land for $400,000. What loss, if any, will Kroger Corporation recognize with respect to the distribution of land?

	a.	$0
	b.	$45,000
	c.	$225,000
	d.	$275,000