The stock of Mulberry Corporation is owned by Archana (60%) and Anar (40%), who are mother and daughter. Pursuant to a plan of complete liquidation adopted earlier in the current year, Mulberry distributes land worth $1,056,000 to Anar (basis of $168,960 in Mulberry stock). The land was purchased by Mulberry Corporation three years ago for $1,372,800, and it is distributed subject to a liability of $844,800. What amount of gain or loss is recognized by Mulberry Corporation and by Anar