The Stock of END Corp is owned 80% by Iron Corporation and 20% by Jane Brown.As of June 30, 2019, END Corp had the following assets:

Adjusted BasisFMV

Cash$20,000$ 20,000

Equipment32,00060,000

Land47,00040,000

Verizonstock25,00030,000

Iron Corporation acquired its stock in 1995 paying $27,000 for its stock and Brown acquired her stock in 2009 paying $23,000 for it.On June 30, 2019, END Corp. adopts a plan of liquidation and immediately distributes its assets to Iron Corporation and Brown.Iron Corporation receives the Cash, Equipment and the Land and Brown receives the Verizon stock.

What is the amount of gain or loss to be recognized by END Corporation as a result of the distribution of its assets to Iron Corporation and Brown?